Senior Property Tax Exemption - State of Colorado

By
Real Estate Broker Owner with Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 DRE# IR40011786

Senior Property Tax Exemption - State of Colorado

 

The senior property tax exemption is back!    The Denver metro Senior tax benefitsarea counties have created this homestead exemption for qualifying seniors.     This gives our seniors a reduction in their property tax, as long as they can qualify with the following -

1.   The qualifying senior must be at least 65 years old on Jan. 1 of the year in which he or she qualifies.

2.  The qualifying senior must be the owner of the record, and must have been the owner of the record for at least ten consecutive years prior to Jan. 1.

3.   The qualifying senior must occupy the property as his or her primary residence and must have done so for at least ten consecutive years prior to Jan. first.



Per the information on County web sites on this Senior exemption --

“The exemption reduces the actual value of qualified residential property by 50 percent up to a maximum reduction of $100,000.  The state is responsible for paying the tax on the exempted value. Once approved, the exemption remains in place until there is a change in ownership. Applications are available below.

An applicant or married couple can apply for the exemption on only one property.  That property must be his or her primary residence. Married couples and individuals who apply for the exemption on multiple properties will be denied the exemption on all properties.”



Senior tax benefitsIf you have other questions regarding qualifying for this tax exemption, please refer to your respective County’s web site.      As stated in the other information, this reduced property tax will not transfer to a new owner, unless they too qualify for this discount.


What a great program to put back into place to help our seniors who are on fixed incomes!

 




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Metro Brokers - House to Home, Inc.House to Home

GRI, ABR, CRS, CNE, e-Pro  

Broker/Owner

Joan@JoanCox.com

720-231-6373

 

Denver Real Estate

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Topic:
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Comments 17 New Comment

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Rainmaker
646,881
Eileen Hsu
LICENSED REAL ESTATE SALESPERSON
Douglas Elliman Real Estate

Great information about Senior in Denver Colorado property tax exemption. Sounds like a wonderful program to help out the elderlys.

July 20, 2012 07:15 AM
Ambassador
1,172,550
Toni Weidman
23 Years Selling Homes in New Port Richey, FL
Re/Max Sunset Realty

We don't have that in Florida, Joan. Everyone gets a homestead reduction if it's the primary home. But seniors don't get anything special.

July 20, 2012 09:22 AM
Rainmaker
1,275,398
Joan Cox
Denver Real Estate - Selling One Home at a Time
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373

This tax exemption was in effect for many years and was removed.    So glad for our seniors it was re-enacted!

July 23, 2012 06:23 AM
Rainmaker
520,068
David Burrows
No Pressure, Just Seriously Devoted to Real Estate
Classic Realty

Joan, this is information important to all Seniors. I appreciate the variety of useful topics you use in your posts. Thanks for sharing.

July 25, 2012 04:21 AM
Rainmaker
1,275,398
Joan Cox
Denver Real Estate - Selling One Home at a Time
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373

This is very important for our seniors living off a fixed income, and glad to see it enacted once again.

July 28, 2012 07:25 PM
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Joan Cox

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