|Senior Tax Exemption|
In 2000, voters amended the Colorado Constitution with the adoption of Section 3.5 of Article X. The exemption was effective January 1, 2002 and the exemption affected property taxes billed in 2003.
For those who qualify, 50 percent of the first $200,000 of actual value of the property is exempted. The state will pay the exempted property tax.
All qualifying individuals are encouraged to apply for the senior exemption regardless of state funding.
Disabled Veterans Tax Exemption
In 2006, Colorado voters approved Referendum E, amending section 3.5 of article X of the Colorado Constitution. The amendment and subsequent legislation expanded the senior property tax exemption to include "qualifying disabled veterans." For disabled veterans who qualify, 50 percent of the first $200,000 of actual value of the veteran’s primary residence is exempted. The state will reimburse the county treasurer for the lost revenue. Owners of multiple residences may only designate one property as their primary residence.