Question: My husband and I have lived in Teller County since 2000 and own our home. I heard about a senior property tax exemption that we may be eligible for, but I don’t know anything about it. Can you explain it to me?
Answer: Yes, the senior property tax exemption is available to senior citizens and the surviving spouses of senior citizens throughout the state of Colorado on their primary residence. You can apply for the exemption on only one property, and no more than one exemption per tax year is allowed.
Requirements are as follows: The applicant is at least 65 year old on Jan. 1 of the year in which they apply; the applicant or his/her spouse is the property owner of record and has owned the property for at least 10 consecutive years prior to Jan. 1; and the applicant occupies the property as their primary residence and has done so for at least 10 consecutive years prior to Jan. 1.
Requirements for surviving spouses of previously eligible senior citizens are as follows: Applicant’s spouse passed away after Dec. 31, 2001; and applicant’s spouse was at least 65 years old on Jan. 1 of the year he/she passed away; and applicant’s spouse occupied the property as his/her primary residents for at least 10 consecutive years prior to Jan. 1 of the year in which he/she passed away; and applicant occupied the property with his/her spouse as the couple’s primary residence; and applicant currently occupies the property as his/her primary residence; and applicant has not remarried.
Further information may be found online at colorado.gov/dola/property-taxation. Exemption forms may be accessed at colorado.gov/pacific/dola/property-taxation-forms#exemptions.
If you qualify for this exemption, it allows for 50% of the first $200,000 of actual value of the qualified applicant’s primary residence that is exempt. Check it out. Call Teller County Assessor if you have questions at 719-689-2941.
Rebecca Blair is a Senior Advocate at the Community of Caring Foundation Aspen Mine Center. Contact her with questions on senior living in Teller County at firstname.lastname@example.org or 689-3584, ext. 101.