Senior Homestead and Disabled Veteran Property Tax Exemptions
Senior Homestead Exemption
Voters approved adding the senior homestead exemption to the State Constitution in November 2000. Under the exemption, 50 percent of up to $200,000 of a residential property’s market value is exempt from the property tax. The portion of a residential property’s value exempted from property tax is called the homestead exemption and the state pays the property tax on the exempted portion.
To be eligible, homeowners must be age 65 and over and have lived in the same primary residence for the immediate prior 10 years. In the circumstance of a death, a senior’s surviving spouse may retain the exemption.
For the 2016 property tax year the state legislature made the senior property tax exemption available to qualifying senior citizens and the surviving spouses of seniors who previously qualified.
The basic requirements to be a qualifying senior for the 2016 property tax year are:
- To be at least 65 years old as of January 1, 2016;
- To have filed an application for the exemption with the Garfield County Assessor’s Office by July 15, 2016;
- To be the owner of record prior to January 1, 2016
- To currently occupy the property as his or her primary residence.
The property must be classified by the Garfield County Assessor as residential. If the applicant owns a multiple dwelling unit property, the exemption will only be granted to the unit occupied by the applicant as his or her primary residence.
Taxpayers have until July 15 each year to file an application for the exemption with the Garfield County Assessor’s Office. Once approved, the exemption remains in effect for future years and the applicant need not re-apply. An exemption will not be allowed retroactively should a qualified individual fail to file.
Please contact the Garfield County Assessor at (970) 945-9134, or the Colorado Division of Property Taxation at (303) 866-2371, with questions about the senior exemption. The application form is available from, and must be submitted to, the Garfield County Assessor, at 109 8th Street, Suite 207, Glenwood Springs, CO 81601.
Disabled Veteran Exemption
In the 2006 general election, voters extended the property tax exemption to disabled veterans who have a 100 percent permanent and total disability rating as a result of a service-connected disability. Similar to the senior homestead exemption, the disabled veteran exemption may also be lowered by the state legislature. To date, the state legislature has not reduced the exemption.
For disable veterans who qualify, 50 percent of the first $200,000 of actual value of the veteran’s primary residence is exempted. The state will reimburse the County Treasurer for the lost revenue.
Qualifying veterans must have owned a Colorado home since January 1 of the current year, may be of any age, and must be honorably discharged and have a 100 percent permanent and total disability rating from the U.S. Department of Veterans Affairs as a result of a service-connected disability.
Please contact the Colorado Division of Veterans Affairs at (303) 284-6077 with questions regarding eligibility. Veterans have until July 1 each year to file an application to the Colorado Department of Military and Veterans Affairs, Division of Veterans Affairs.
Application forms may also be obtained online here. Completed applications may be mailed to: Colorado Department of Military and Veterans Affairs, Division of Veteran Affairs, 1355 S. Colorado Blvd., Building C, Suite 113, Denver, CO 80222.
An individual or married couple is only entitled to one exemption, either senior citizen or disabled veteran, and only on one property. If an individual or married couple applies for exemptions on more than one property, the exemptions will be denied on every property.