senior property tax exemptionn.
Reviewed by Owen Hathaway, AttorneyUpdated September 18, 2026A Colorado property tax break for long-time senior homeowners: a portion of a primary residence for owners 65 or older who have lived there at least ten years, and the state reimburses local governments for the difference.
A senior property tax exemption is a Colorado property tax reduction for long-time senior homeowners. For an owner who is at least 65 and has owned and occupied the same home as a primary residence for at least ten consecutive years, half of the first $200,000 of the home's actual value is removed from the taxable base, a reduction of up to $100,000 in value (as confirmed for 2026). The State of Colorado, not the local taxing district, reimburses the lost revenue.
The same exemption is available to a veteran with a permanent and total service-connected disability, and to certain surviving spouses, without the ten-year occupancy requirement. Because the legislature funds the program one year at a time, it can be reduced or suspended when the state budget cannot cover it. An eligible owner files with the county assessor, generally by July 15, to claim the exemption for that tax year; once granted, it continues automatically as long as ownership and occupancy hold.
Despite the common label senior homestead exemption, this is a property tax benefit and is unrelated to the creditor homestead exemption or to Medicaid's treatment of the home.
Colorado-specific: established by Colo. Const. art. X, 3.5 and implemented by statute (C.R.S. 39-3-203). For a qualifying senior (65+ who has owned and occupied the primary residence for 10+ consecutive years), 50 percent of the first $200,000 of actual value is exempt, a maximum of $100,000 in value (as confirmed for 2026). The same benefit extends to a veteran with a 100 percent permanent and total service-connected disability and to certain surviving spouses, without the 10-year requirement. The state reimburses local governments and may reduce or suspend funding in lean budget years; the 2026 program is funded. Applications are due to the county assessor by July 15.