Colo. Const. art. X § 3.5 Homestead Exemption For Qualifying Senior Citizens and Disabled Veterans

• Library: Colorado Constitution
• Edition: 2023
• Currency: Current through 11/8/2022 Election
• Year: 2023
• Citation: Colo. Const. art. X § 3.5

(1) For property tax years commencing on or after January 1, 2002, fifty percent of the first two hundred thousand dollars of actual value of residential real property, as defined by law, that, as of the assessment date, is owner-occupied and is used as the primary residence of the owner-occupier shall be exempt from property taxation if:

(a) The owner-occupier is sixty-five years of age or older as of the assessment date and has owned and occupied such residential real property as his or her primary residence for the ten years immediately preceding the assessment date;

(b) The owner-occupier is the spouse or surviving spouse of an owner-occupier who previously qualified for a property tax exemption for the same residential real property under paragraph (a) of this subsection (1); or

(c) For property tax years commencing on or after January 1, 2007, only, the owner-occupier, as of the assessment date, is a disabled veteran.

(d) For property tax years commencing on or after January 1, 2023, only, the owner-occupier, as of the assessment date, is an eligible spouse.

(1.3) An owner-occupier may claim only one exemption per property tax year even if the owner-occupier qualifies for an exemption under both paragraph (c) of subsection (1) of this section and either paragraph (a) or paragraph (b) of subsection (1) of this section.

(1.5) For purposes of this section, "disabled veteran" means an individual who has served on active duty in the United States armed forces, including a member of the Colorado national guard who has been ordered into the active military service of the United States, has been separated therefrom under honorable conditions, and has established a service-connected disability that has been rated by the federal department of veterans affairs as one hundred percent permanent disability through disability retirement benefits or a pension pursuant to a law or regulation administered by the department, the department of homeland security, or the department of the army, navy, or air force.

(1.7) As used in this section, "eligible spouse" means either a surviving spouse of a united states armed forces service member who died in the line of duty and received a death gratuity from the Department of Defense pursuant to 10 U.S.C. Sec. 1475 et seq. or a surviving spouse of a veteran whose death resulted from a service-related injury or disease as determined by the United States Department of Veterans Affairs if the surviving spouse is receiving dependency indemnity compensation awarded by the United States Department of Veterans Affairs pursuant to chapter 13 of Part II of Title 38 of the United States Code, Chapter 5 of Part I of Title 38 of the United States Code, and any other applicable provision of federal law.