The homestead exemption for senior citizens was created for qualifying seniors and the surviving spouses of seniors who previously qualified. The three basic requirements are: 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; and 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. 1.
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.
Colorado Property Tax/Rent/Heat Rebate Program
Seniors age 65 and over and disabled persons are eligible for a Colorado property tax/rent/heat rebate if their income is less than $11,000 for individuals or $14,700 for couples. The amount of the rebate depends upon the amount of heat and rent/property taxes that were paid in the previous year. To receive this rebate, complete the form (see below) and return to the Colorado Department of Revenue by Dec. 31.
Qualified applicants can receive a rebate of up to $600 of the property tax and $192 of their heating expenses paid during the year, either directly or as part of their rent payments, by filing the Property Tax/Rent/Heat Rebate Application available below.
Colorado Property Tax Deferrals
The State Treasurer’s Elderly Property Tax Deferral helps senior citizens, many of whom live on a fixed income, continue to afford to live in their own home. The program loans senior citizens, 65 years of age or older, funds to pay their property taxes.
The State Treasury makes tax payments directly to the county on behalf of the participant for the entire amount due that year. The loan is logged as a lien against the participant’s property that does not have to be remitted until the property sells or the mortgage changes hands.
To participate, seniors must apply to their individual county treasurer every year before April 1. See further information about the Property Tax Deferral below.
Senior Exemption Long Form
Taxpayers 65 years and older as of January 1st, who have owned their property for at least 10 consecutive years and occupy the property as their primary residence may qualify for the Senior Exemption.
Long Form Senior Exemption Instruction
Senior Exemption Application form for applicants confined to a nursing home, surviving spouses or whose property is owned by a trust or corporation.
- Property Tax Deferral for Seniors
- Rebates and Deferrals for the Elderly or Disabled in Colorado
Rebates and Deferrals for the Elderly or Disabled in Colorado Link to Colorado Department of Revenue page describing tax relief programs for those over 65 or the disabled.
Senior Exemption Short Form
Taxpayers 65 years and older as of January 1st, who have owned their property for at least 10 consecutive years and occupy the property as their primary residence may qualify for the . See Senior Exemption for further information on this exemption and to determine which of the two forms should be used to apply.
Senior Exemption Short Form Instructions
Instructions for completing Senior Exemption Short Form
Brochure explaining eligibility requirements and filing deadlines for Senior Property Tax Exemption.
- Veteran Surviving Spouse Application
Spouses of Veterans who have previously qualified for the Property Tax Exemption my apply to continue to receive their deceased spouse Exemption.
Which Form Should I Use?
Brochure describing the qualifications and filing requirements for both the short and long application forms for the Senior Exemption.