65 or older? You might be entitled to a property tax exemption

by | Mar 21, 2022 | Blog | 0 comments

If you’re 65 or older, here’s good news: You could be eligible for a property tax break.

Indeed, this break can be substantial. Those who qualify can receive a 50% tax break on the first $200,000 of the actual value of their primary residence.

Here’s what you need to know, gleaned from the Colorado application form for the exemption:

  • You must be 65 years old on January 1 of the year of application.
  • You must currently be the “owner of record” and have been the owner of record for at least ten consecutive years prior to January 1.
  • Singles or married couples can only apply for exemption on one property. That property must be their primary residence.
  • The property must be classified as residential by the county assessor.

Follow this link HERE for more details.

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