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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Location:
Colorado Denver County Denver
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Tags:
denver property tax
property tax exemption
property tax discounts
senior discounts
senior property tax exemption

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Rainmaker
833,942
Fred Carver-Top Realtor Victoria, BC
Accredited Victoria BC Real Estate Consultant
Re/Max Camosun Victoria BC Real Estate

Hi Joan...we have a seniors property tax exemption,reduction but not 50% like that. I'm moving to Denver, the only issue is the 10 year rule...mmm

Cheers

July 19, 2012 08:06 AM
Rainmaker
233,579
David Grbich
Orange County Real Estate - 949-500-0484
Ventana Coastal Properties - www.FindCARealEstate.com

Hi Joan - CO is very senior friendly which is great - all the best, Dave

July 19, 2012 08:09 AM
Ambassador
829,039
John McCormack
AlbuquerqueHomes.com
Albuquerque Homes Realty * www.AlbuquerqueHomes.com

Good morning Joan -

NM is senior friendly as it should be.  Good for you in getting the word out there that seniors need to check to see if they qualify for the benefits!  Suggested.

 

July 19, 2012 09:01 AM
Rainmaker
686,904
Kwee Huset
Venice Florida Homes For Sale
Kwee Huset Realty

Hi Joan,  senior property tax exemption in Denver Co will attract more senior to move there.  In Florida we also have low income (senior), disabled veteran, and widow exemption.

July 19, 2012 01:23 PM
Rainmaker
1,340,307
Anita Clark
Realtor - Homes for Sale in Warner Robins GA
ColdwellBanker SSK Realtors ~ 478.960.8055

Joan: This is an excellent program for Denver area seniors...every little extra bit helps.

July 19, 2012 01:25 PM
Rainmaker
492,911
Amanda S. Davidson
Your Northern Virginia Realtor
Living A Dream Real Estate

Joan- What a great program for Denver area seniors, I hope your blog helps get the word out. I bet there are many that doesn't know about it.

July 19, 2012 03:59 PM
Ambassador
803,121
Debbie Laity
Your Real Estate Resource for Delta County, CO
Cedaredge Land Company

This is great news for seniors in your area. Every little bit of savings helps. Nice blog, Joan, and way to stay on top of things.

July 19, 2012 04:07 PM
Rainmaker
536,368
Lynda Eisenmann
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co
Preferred Home Brokers

Hi Joan,

What great news for Denver area seniors...& in come cases up to a 50% savings is huge! I'd sure like to see more ways (like this) when it comes to caring for seniors.

Some people seem to feel that seniors are okay because their home may be free and clear if they've lived there for a very long time. Yet with the overall cost of living inflation through the decades many of our seniors throughout the U.S. are barely making it.

July 19, 2012 07:27 PM
Rainmaker
1,370,801
Rebecca Gaujot, Realtor®
Lewisburg WV Real Estate, Greenbrier County
Coldwell Banker Stuart & Watts Real Estate

Joan, I applied for our homestead exemption... well guess there is something good for you when you get older :)

July 19, 2012 09:07 PM
Rainmaker
1,439,823
Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c)
Long Island Condo & Home Sale Specialists
Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803

Joan, We have a program called enhanced STAR for anyone over 65, but Denver's property tax exemption sounds very inviting!

July 20, 2012 03:00 AM
Rainmaker
1,051,776
Ginny Gorman
Homes for Sale in North Kingstown RI and beyond
Phillips Post Road Realty ~ 401-529-7849~ RI Waterfront Real Estate

Joan, we don't have anything like this to the extent you do...makes a wonderful reason to move to Denver and enjoy the mountains as your reach the senior years...

July 20, 2012 06:08 AM
Ambassador
705,083
Debb Janes
REALTOR®, EcoBroker Camas, Washington
The Carl Group, LLC

Wonderful information and program for Seniors in the Denver area. Hopefully, it helps many people who deserve some "golden time in their golden years."

By the way, so sad to hear about the shooting at the theater in Aurora...

July 20, 2012 06:50 AM
Rainmaker
656,727
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
1,239,960
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
1,372,170
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
528,891
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
1,372,170
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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