City and County of Broomfield Public Information Office
One DesCombes Drive · Broomfield, CO 80020 · (303) 438-6308

Media Release

Release Date: June 18, 2002
Contacts: 

Nancy Anders
 Broomfield Assessor
303.438.6291

Rosann Doran
Public Information Officer
303.438.6308 

Colorado Senior Property Tax Exemption
application deadline nears

Residents who are eligible for the new "homestead" property tax exemption are reminded that to receive the exemption for 2002, the appropriate application form must be completed and returned to the assessor’s office no later than July 15.

The new property tax exemption goes into effect this year for taxes that are payable in January 2003. The exemption is available for two groups of people: qualifying seniors, and the surviving spouses of seniors who previously qualified.

For those who qualify, 50 percent of the first $200,000 of actual value of their primary residence is exempted. The state pays the exempted property tax. This means that the owner of a property valued at $100,000 pays tax on $50,000, and the owner of a property valued at $250,000 pays tax on $150,000.

Generally, each of the following statements must be true to qualify. The qualifying senior:

1. must be at least 65 years of age or older on January 1 of this year;
2. must be the owner of record, and must have been the owner of record for at least ten consecutive years prior to January 1;
3. must occupy the property as his/her primary residence, and must have done so for at least ten consecutive years prior to January 1.

However, the applicant may still qualify if one or more of the following is true:

1. ownership is in the spouse’s name, and the spouse also occupies the property;
2. ownership has been transferred to or purchased by a trust, corporate partnership or other legal entity solely for estate planning purposes;
3. the qualifying senior or his/her spouse was or is confined to a health care facility;
4. the applicant was forced to move when the prior residence was condemned in an eminent domain proceeding.

The surviving spouse of a senior who previously qualified may apply for exemption if the applicant’s husband or wife met the qualifications on January 1 of this year, and passed away on or after that date. The applicant must occupy the property as his or her primary residence and must have done so with his or her spouse.

Two application forms are used for the exemption. The "Short Form" is for a qualifying senior citizen who meets each of the basic requirements.

The "Long Form" must be used when the applicant qualifies as the surviving spouse of a senior who previously qualified, or when the applicant falls within one or more of the exceptions to the basic qualifications.

To request an application form or brochure, or for more information about the exemption, visit the Central Records Office at the Municipal Center, or call 303-464-5819.