Law offers tax relief to senior citizen property owners
GARFIELD COUNTY, CO – Colorado seniors may be eligible for a property tax exemption, and the application deadline of Monday, July 15, is fast approaching. In 2000, Colorado voters passed a Property Tax Exemption for Seniors (also known as Referendum A). This law provides that 50 percent of the first $200,000 of actual value for a qualifying senior citizen’s primary residence shall be exempt from property taxation. The State of Colorado pays the property taxes on the exempted value. To qualify for the exemption, the senior must: have reached age 65 as of January 1, 2019; have occupied the property
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Property tax collections up $20 million over last tax cycle
GARFIELD COUNTY, CO – Garfield County property tax notices are arriving in the mail. Approximately 30,000 notices were mailed out to property owners on Jan. 24. The Garfield County Board of County Commissioners has certified $147.9 million in taxes to be collected through this tax cycle, up from $127.9 million in 2018. Property owners may pay taxes in halves, or all at once; the deadlines for half payments are Feb. 28, 2019, and June 15, 2019. The deadline for a full payment is April 30, 2019. In 2019, nearly 48 percent of property tax distribution goes toward K-12 schools; 29
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Garfield County joins PILT lawsuit
GARFIELD COUNTY, CO – Garfield County has joined a class-action lawsuit that seeks to reimburse counties that were underpaid payment in-lieu of taxes (PILT) funds from 2015 through 2017. If successful, Garfield County stands to receive an estimated $121,931 reimbursement through the legal action. The federal government pays PILT to local governments for federal lands within their boundaries that aren’t subjected to property taxes. The amount due is determined by a statutorily defined formula. In 2008, Congress made full funding of PILT mandatory through 2014. The 2015 legislation requiring PILT payments was less direct, and the government took the position
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