Applications must be filed no later than July 15 to have the exemption apply to the tax bill you receive the following year.
Effect on Taxes
- The exemption goes into effect for tax year 2020.
- The discount will first appear on the tax bill sent in January 2021.
- The exemption remains in effect until a disqualifying event occurs, such as:
- Sale of property
- Property is moved into a trust, LLC or other legal entity*, or
- Surviving Spouse*, or
- Home destroyed by a natural disaster*
* You will be required to reapply using the Long form
To qualify to apply for the 2020 tax year (payable in 2021), seniors:
- Were born on or before January 1, 1955, and
- Lived in the home continuously starting before January 1, 2010, and
- Owned the home continuously starting before January 1, 2010.
For those who qualify, 50 percent of the first $200,000 in actual value of their primary residence is exempted, for a maximum exemption amount of $100,000 in actual value. The State of Colorado pays the property taxes on the exempted value.
Instructions & Application Forms
Applications are also available at the Assessor’s office, senior centers and other locations.
If you have any questions, please email email@example.com.