Senior Citizens and Disabled Veterans in Colorado Can Save Money on Property Taxes

Did you know that you could be paying half of what you are currently paying for Property Taxes? In the state of Colorado, senior homeowners and disabled veterans can apply for an exemption to help lower the cost of their yearly property taxes.  There are stipulations to those who can apply, as outlined below.

According to the Larimer County website, if you are 65 years or older (prior to January 1 of the year you apply) and have owned your home and occupied it as your primary residence for at least 10 consecutive years or longer, you can apply for the Senior Citizen Exemption. The State of Colorado will pay the property taxes on the exempted value for those who qualify. Fifty percent of the first $200,000 in actual value of the primary residence is exempted from property tax.  

That can make a big difference for seniors on a fixed income. If you fit the parameters, you have some time to prepare your application, which is due July 15. The application form is available at the Larimer County Assessor’s office or you can find it here.

The Disabled Veteran Exemption helps veterans who have: owned and occupied the property since January 1 of the current year, sustained a service-connected disability while serving on active duty in the Armed Forces of the United States, were honorably discharged, or were rated by the United States Department of Veteran Affairs as one hundred percent “permanent and totally” disabled. As per the Larimer County website, VA unemployability awards do not meet the requirement for determining an applicant’s eligibility. The next application deadline is July 1. Application forms are available from the Division of Veterans Affairs or you can find it here.

There is a similar program available in Weld County also.

Call me at 970-590-3201 if you have any questions.