Property Tax Deferral Program for Seniors and Active Military Personnel

The Property Tax Deferral program helps military personnel and seniors, many of whom live on a fixed income, continue to afford to living in their home by deferring the payment of their property taxes.

The State Treasurer's office makes tax payments directly to the county on behalf of the participant for the tax amount due. The loan is logged as a lien against the participant's property that does not have to be remitted until the participant no longer qualifies to defer their property taxes. Click here for a list of outstanding loans by county.

Requirements for Eligibility

Applicant must be a senior who is 65 years or older or a person called into military service pursuant to CRS 39-3.5-101 (1.8), on January 1 of the year in which the person files a claim.

All prior years' property taxes must be paid.

Applicant must own and occupy the property as their primary residence. The property cannot be income-producing.

The total value of liens against the property (mortgages, deferrals, and/or deeds of trust) cannot exceed 100% of the assessed market value.

Mortgage lender agrees that the state's interest in the property would take priority over all other interests.

If a qualified applicant has a reverse mortgage, the property is only eligible for future deferrals if a subordination agreement from the mortgage lender is submitted with the application.

The deferral amount must be paid upon sale or transfer of the property. The deferral amount can also be paid any time prior to sale or transfer without affecting future eligibility.

Procedure

Those who qualify must file an application with their respective county treasurer between January 1st and April 1st of each year.

Once approved, the county treasurer will issue a certificate of deferral to the property owner, keeping one copy on record and sending one copy to the state Treasurer's office. (Note: If property taxes are included in your mortgage payment, you should present a copy of your deferral certificate to the mortgage lender for a refund of the property tax monies held in escrow)

By April 30, the state Treasurer's office will pay the deferred amount to the county treasurer where the property is located.

The state Treasurer's office maintains an account for each tax-deferred property which accrues interest which is credited to the state's General Fund. Call the Treasurer's office for the current interest rate.

When the deferred amount is paid to the county treasurer upon sale or transfer of the property, that amount is then transmitted to the state Treasurer's office.

Senior/Civilian Deferral Application | Military Deferral Application

Locate your County Treasurer

Property Tax Exemption Program* for Seniors and Disabled Veterans

A property-tax exemption is available to senior citizens, surviving spouses of senior citizens, and one hundred percent disabled veterans. For those who qualify, 50 percent of the first $200,000 in actual value of their primary residence is exempted from property taxation. The state pays the exempted portion of the property tax.

The Property Tax Exemption for seniors and one hundred percent disabled veterans is administered by the Department of Local Affairs, but the Treasurer's office is responsible for the distribution of state funds to counties representing the amount issued in exemptions.

Click here to see the total amount paid in Fiscal Year 2019 by county.

*Note: the property tax exemption for seniors was not funded for tax year 2009, 2010, and 2011; however, the property tax exemption was still in effect for disabled veterans.

Requirements for Eligibility, Seniors

Applicant must be a senior who is 65 or older or a surviving spouse of a senior who previously qualified for the exemption.

Applicant must have owned and occupied the property as their primary residence for ten or more years.

Fifty percent of the first $200,000 in actual property value is exempt from property taxation.

Requirements for Eligibility, Veterans

Applicant must be a one hundred percent permanent disabled veteran who has been rated by the U.S. Department of Veterans Affairs as permanently disabled. (VA unemployability awards do not meet the requirement for determining an applicant's eligibility.)

Applicant must have owned and occupied the property as their primary residence on January 1st of the year in which they are applying for the exemption. (If the veteran's spouse is an owner and the veteran is not, the veteran can still qualify if the couple was married on or before January 1 and both have occupied the property as their primary residence since January 1.)

Fifty percent of the first $200,000 in actual property value is exempt from property taxation.

Procedure, Seniors

Seniors and/or surviving spouses who qualify for the property tax exemption must submit an application to their county assesors between January 1st and July 15th of the year you qualify.

The state Treasurer's office distributes state funds to the county where the exempted property is located.

Procedure, Disabled Veterans

Disabled Veterans who qualify for the property tax exemption must submit an application to the Division of Veteran Affairs between January 1st and July 1st of the year you qualify.

The state Treasurer's office distributes state funds to the county where the exempted property is located.

Locate your County Assessor