Owners of Denver Real Estate may not know that there is an exemption for seniors that got re-instated for the property taxes that are due this year. The Fort Morgan Times reported this last May in an article about Govenor Hickenlooper’s signing the budget bill.
Requirements to qualify are: One owner must be 65 years of age; You must have lived in the home as a primary residence for the last 10 years. This may cause 50 percent of the first $200,000 of actual value of a home exempted from property tax, there by reducing your tax bill.
All of Colorado qualifies. So, if you live in Highlands Ranch, which is in Douglas County Colorado, go to the Assessor’s website and look for the Senior property tax exemption application. Follow the directions on the form.
Pete Doty, this Denver Realtor found the form for his Highlands Ranch home at http://www.douglas.co.us/assessor/senior-property-tax-exemption/ . All Colorado assessors should have the information on their websites. Google your counties assessor’s site.
Be cautious as there is also a tax deferral program, which is a loan which does require re-payment, typically when the real estate sells.