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  • Possible Penalties from the Senior Property Tax Exemption

     

    Providing false information or filing more than one exemption application in any property tax year.  

    In addition to any penalties prescribed by law for perjury in the second degree, the applicant who knowingly provides false information on an exemption application or files more than one exemption application in any given year:

    • Shall not be entitled to an exemption;
    • Shall be required to pay an amount equal to the amount of property taxes not paid as a result of the exemption being improperly allowed; and
    • Shall, upon conviction of perjury, be required to pay an additional amount equal to twice the amount of the property taxes that would have been exempted had the application been valid, plus interest. Interest will be calculated pursuant to 39-21-110.5(2) & (3), C.R.S., from the date the invalid application was filed until the date the applicant makes the payment.
    • The penalty described in numbers two and three above shall be deemed part of the lien of general taxes imposed on the person found responsible for its payment. It shall have the priority specified in 39-1-107(2), C.R.S.

    Failure to inform the assessor of any change in ownership or occupancy within 60 days.

    Within 60 days of its occurrence, the assessor must be notified of any change in the property's ownership or occupancy that would result in a loss of the exemption. If the assessor is not notified of the change, the following penalties will be imposed:

    • The exemption will not be allowed; and
    • The applicant or trustee will be required to pay an amount equal to the amount of property taxes not paid as a result of the exemption being improperly allowed, plus interest. Interest will be calculated pursuant to 39-21-110.5(2) & (3), C.R.S., from the date on which the change in ownership or occupancy occurred until the date the applicant makes the payment.
    • The penalty described in number two shall be deemed part of the lien of general taxes imposed on the person found responsible for its payment. It shall have the priority specified in 39-1-107(2), C.R.S.

     

    Last Updated: 2-28-2013