Property Tax Exemption for Qualifying Seniors
The constitutional amendment providing for a Homestead Exemption for qualifying senior citizens was passed by voters in November 2000. For those who qualify, the exemption exempts 50% of a portion of the appraised actual value of the property from property taxes, as determined by the State Legislature. The portion of appraised actual value to which the 50% exemption applies can be changed by the State Legislature.
A property tax exemption is available to senior citizens, surviving spouses of senior citizens, and disabled veterans. For those who qualify, 50 percent of the first $200,000 in actual value of their primary residence is exempted. The amount of this exemption can be changed each year by the State Legislature. (see above). The state pays the exempted portion of the property tax. Application requirements are as follows.
Frequently Asked Questions:
Who is eligible?
If you were 65 or older as of January 1, and you have continuously owned and occupied your primary residence in Colorado for at least ten consecutive years prior to January 1.
I applied for the exemption previously. Do I have to apply again?
You need not reapply for the Senior Exemption if you applied and have been approved or previously received the senior property tax exemption and you still own and occupy the same property (and nothing has changed in ownership or occupancy since being approved for the exemption).
How much is the exemption?
The exemption exempts 50% of a portion of the appraised actual value of the property from property taxes, as determined by the State Legislature. The portion of appraised actual value to which the 50% exemption applies can be changed each year by the State Legislature and can vary from 0% to any amount the Legislature selects given budgetary and other requirements.
What does this mean in terms of property taxes?
Depending on the amount of the appraised value that is subject to the 50% exemption, taxes may be reduced. To calculate the amount of the reduction follow the following steps:
- Multiply the portion of the appraised value subject to exemption as established by the legislature by .50 (50%).
- Multiply the result by .0796 (7.96%) (this is the estimated assessment rate, again, this is set by the State Legislature annually).
- Multiply this result by .095 (95 mills which is a typical levy in Jefferson County, these levies are set annually by the taxing authorities involved, i.e. the school district, fire district, etc.)
- The result will be your tax savings from the exemption.
How do I apply for the exemption?
You may download the application from this Web site. For further information or for a printed application, call the Assessor's Office at
303-271-8629, or e-mail us at firstname.lastname@example.org, or write us at:
Jim Everson, Assessor
Senior Property Tax Exemption
100 Jefferson County Parkway
Golden, CO 80419-2500
Last Modified: May 2, 2011 11:35 AM
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