Property Tax Exemption

I am learning that there are some benefits to achieving “senior” status and one that all Colorado residents may not be aware of is the “Senior Property Tax Exemption”.

For homeowners who qualify, 50% of the first $200,000 in the actual value of their primary residence is exempted from property taxation. In order to qualify for this property tax exemption…

• You must be at least 65 years old (or the surviving spouse of a qualified applicant) as of January 1st of the year in which you are claiming the property tax exemption.
• You must be the current owner of the property and have owned and occupied the property as your primary residence for at least the previous ten consecutive years.
• This property tax exemption is also available to qualified disabled veterans.

This tax exemption program is administered by each county, but funded by the State of Colorado. Applications need to be submitted by July 15th of the year for which the exemption is requested, however, funding can run out, so submit your application sooner rather than later. Here are links to the various Metro Denver County websites…

• Denver County – Property Tax Exemption
• Jefferson County – Property Tax Exemption
• Arapahoe County – Property Tax Exemption
• Douglas County – Property Tax Exemption
• Adams County – Property Tax Exemption
• Broomfield County – Property Tax Exemption

If you haven’t quite reached “senior” status yet, please pass this information forward to someone you know who can benefit from this property tax exemption. As always, if you have questions regarding this property tax exemption, or any other real estate matters, please don’t hesitate to contact us.

Bob Durack – Managing Broker
303-991-6204