What is the active military personnel tax deferral program?
The active military personnel tax deferral program is offered by the State of Colorado. It allows you to postpone tax payments on your primary residence in a year that you are a guardsman or reservist called into military service. Taxes from that year are deferred until you sell or transfer your property, and interest is applied to the amount you defer. You can defer either the whole amount of your taxes, or half your taxes. The Boulder County Treasurer’s Office collects the information and sends it to the State of Colorado, which manages the program, determines eligibility, and notifies the county treasurers who has been approved or disapproved.
The 2020 interest rate is 1.750%.
- You must have been called into military service on January 1 of this year
- You cannot be earning income from the property (e.g., renting the property), but you can have a home office
- If your property is in a trust you must be named the trustee and the beneficiary of the trust
- If you have a reverse mortgage you likely cannot receive tax deferral (your lender must agree to subordinate)
- The completed application must be returned to the Treasurer’s Office no later than the close of business on March 20, 2020
To receive an application
You can request an application or call and provide the following information to the Treasurer’s Office:
- Your full name
- If the property is held in a trust, the name of the trust
- Property address
- Your date of birth
- Phone number
- Name of your mortgage company (if applicable)
- Approximate balance on your mortgage
- Whether or not you have a reverse mortgage