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Senior and Veteran Property-Tax Program

The Property Tax Deferral Program was established to aid seniors and military personnel. The program defers the payment of property taxes for qualified seniors or military because many are living on a fixed income. This provides qualified applicants the opportunity to continue living in their homes. 

The tax payments are made to the county on behalf of the participant by the State Treasurer's office. The amount does not have to be repaid until the participant no longer qualifies for the program.

According to the El Paso County Assessor's Office, requirements for senior eligibility include the applicant being 65 years or older on January 1 of the year in which they are applying. Qualifying applicants must be the current owner and have been the owner of the home for at least 10 consecutive years prior to January 1.  

In 2006, Colorado voters authorized an amendment to the Colorado Constitution expanding the tax exemption to qualifying disabled veterans. 

The Disabled Veteran Property Tax Exemption is available to applicants who sustained a service-connected disability with a 100-percent permanent disability rating by the Federal Department of Veteran Affairs, according to the El Paso County Assessor's Office. Disability retirement benefits must be in accordance with law or regulation under the Department, the United States Department of Homeland Security, or the Department of the Army, Navy or Air Force. Eligible veteran applicants must have owned and occupied their primary residence on January 1 of the year in which they are applying.

This exemption is administered by the Department of Local Affairs, but the State Treasurer's office is responsible for payment. For those who qualify, 50 percent of the first $200,000 in the actual value of the primary residence is exempt from property taxation.

The state then pays the exempted portion of the property tax. 

For more information, eligibility requirements, how to apply, and more, please click here

 Tax stock photo