A Colorado homeowner who is 65 or older and has lived in the home for 10 straight years can knock up to $100,000 off the value their property tax is figured on. There's no income test for that break. This guide to Colorado senior property tax relief covers that exemption, the new rule that lets you carry it to a new home, the program that lets you defer taxes, and a rebate for low-income seniors.

None of these are automatic. You claim the exemption with your county assessor, and the deadline is July 15.

In This Guide

Colorado Senior Property Tax Relief: The Homestead Exemption

This is the big one. Colorado calls it the Senior Property Tax Exemption, and you'll also hear it called the senior homestead exemption.

Here's what it does. Half of the first $200,000 of your home's actual value is exempted from property tax. That's up to $100,000 of value removed before your tax is calculated. The state reimburses your local governments for the revenue they lose, so your schools and county don't take the hit.

You qualify if you meet all three rules:

  • You're at least 65 years old on January 1 of the year you apply.
  • You own the home and it's your primary residence.
  • You've owned and lived in it for at least 10 consecutive years.

There is no income limit. A senior with a high pension qualifies on the same terms as one living on Social Security alone, as long as the age and residence rules are met.

A simple way to picture it: a home with an actual value of $400,000 gets $100,000 of that value exempted, leaving $300,000 to be taxed. A home worth $150,000 gets half of that value, $75,000, exempted. The 10-year and primary-residence rules are what most seniors trip over, not the math.

The exemption is administered by the Colorado Division of Property Taxation, but you apply through your county assessor. Once it's approved, it carries forward year to year. You don't reapply as long as you keep the same home and keep living in it.

New: Carrying the Exemption to a New Home

The 10-year rule used to punish seniors who moved. Sell the home you'd lived in for decades, buy a smaller place, and you'd lose the exemption and have to start the 10-year clock over.

That changed. Colorado voters passed HCR24-1001 in 2024, which added a "Qualified Senior Primary Residence Classification." It adds portability to the exemption.

Here's the rule. If you previously qualified for the senior exemption (as of January 1, 2020 or later) but moved and lost it, you can claim the same 50 percent of the first $200,000 reduction on your new primary residence. You don't have to re-meet the 10-year requirement on the new home.

This matters for a common situation: a senior who downsizes after a spouse dies, or who moves closer to family or to a single-level home that's easier to manage. Before this change, that move cost them the exemption for a decade. Now the break follows them.

If you sold a home where you had the exemption and bought a new primary residence in Colorado, ask your county assessor about the Qualified Senior Primary Residence Classification when you apply. It's a different track from the standard exemption.

The Property Tax Deferral Program

The exemption lowers your bill. The deferral lets you put off paying it.

Colorado runs a Property Tax Deferral Program through the State Treasurer. Homeowners who are 65 and older, and active-duty military, can defer their property taxes. The state pays the taxes for you, and the amount becomes a loan.

A few mechanics to understand:

  • It's a simple-interest state loan, recorded as a junior lien on your home. You repay it later, usually when you sell the home or it passes to heirs.
  • To qualify, existing liens on the property (like a mortgage) can be no more than 75 percent of the home's value. The state needs enough equity behind its lien.

A 2023 change widened the program. Now any Colorado homeowner, not just seniors, can defer the part of a tax increase that runs above a 4 percent growth cap. So if your taxes jump sharply in a year, you can defer the spike above that cap. This piece has a $100 minimum and a $10,000 cumulative maximum.

A deferral is a postponement, not forgiveness. Interest accrues, and the lien stays on the home until the loan is repaid. For a senior who is house-rich but cash-poor, it's a way to stay put without selling, the kind of homeowner deciding whether to sell or rent the home for care. Check the current interest rate and terms with the Treasurer's office before you commit, since the rate is set by the state and can change.

The Low-Income PTC Rebate

The first three tools are about your home's value and your taxes. This one is a cash rebate, and it's aimed squarely at low income.

Colorado's Property Tax/Rent/Heat (PTC) Rebate is run through the Department of Revenue. It gives qualifying seniors money back to help with property tax, rent, and heating costs.

You may qualify if you're a senior 65 or older, or a surviving spouse 58 or older, with very low income. For 2025, the rebate runs up to about $1,178. The income limits are strict, well below typical retirement income, so this one reaches a narrow group.

Because the dollar amount and the income cutoffs change each year, treat the figures here as a guide, not gospel. Check the current numbers on the Department of Revenue's PTC page before you apply or rule yourself out. Renters can qualify too, which makes the PTC different from the other three tools, all of which require owning a home.

Colorado Senior Property Tax Relief at a Glance

Tool What it does Who qualifies How to claim
Senior Property Tax Exemption Exempts 50% of the first $200,000 of value (up to $100,000) from property tax 65+, owned and lived in the home 10 consecutive years, no income limit Apply with your county assessor by July 15
Qualified Senior Primary Residence Classification Carries the same exemption to a new home without restarting the 10-year clock Prior exemption recipients (Jan 1, 2020 or later) who moved Apply with the county assessor for the new home
Property Tax Deferral Program Defers taxes as a simple-interest state loan recorded as a junior lien 65+ or active-duty military; existing liens under 75% of value Apply through the State Treasurer's program
PTC Rebate Annual cash rebate of up to about $1,178 (2025) for property tax, rent, and heat Seniors 65+ or surviving spouses 58+ with very low income Apply through the Department of Revenue

How to Apply for the Exemption

The Senior Property Tax Exemption runs through your county assessor, not the state and not your tax collector. The assessor decides exemptions; the treasurer just sends the bill.

Follow these steps:

  1. Find your county assessor. Search the county name plus "assessor." Each Colorado county has one, with its own application form.
  2. File the short-form application by July 15 of the year you want the exemption. Most counties accept the standard state short form for applicants who meet the basic rules.
  3. Be ready to prove age and residence. You'll confirm you turned 65 by January 1 and have owned and lived in the home for 10 straight years.
  4. If you moved, ask about the Qualified Senior Primary Residence Classification instead. It's the portability track for prior recipients.

A few points worth knowing:

  • You file the exemption once. It carries forward as long as you keep the home as your primary residence.
  • July 15 is the deadline. Miss it and you generally wait for the next year. Don't sit on it.
  • The deferral and the PTC rebate are separate applications through different agencies. The assessor only handles the exemption.

If property taxes are one piece of a bigger question about affording care, our guide to paying for senior care walks through Medicaid, VA benefits, and private-pay options alongside home equity.

Not sure which Colorado break fits your situation? Chat with Brevy's care navigator to sort out your options.

Frequently Asked Questions

No. The Senior Property Tax Exemption has no income test. You qualify on age and residence alone: 65 or older, and 10 consecutive years owning and living in the home as your primary residence. The PTC rebate is the program with strict income limits, but that's a separate benefit.

You won't qualify for the standard exemption yet. But if you held the exemption on a previous home (as of January 1, 2020 or later) and then moved, the new Qualified Senior Primary Residence Classification lets you claim it on your current home without the 10-year wait. Ask your assessor about that track.

Yes. They're separate tools and don't cancel each other. The exemption lowers the value your tax is figured on. The deferral lets you postpone paying whatever tax is left, as a state loan against the home. A senior who's short on cash can claim the exemption and still defer the remaining bill.

The deferred taxes become a simple-interest loan recorded as a junior lien on your home. You repay it later, usually when you sell or when the home passes to heirs. Interest accrues over time, so the balance grows. Confirm the current rate with the State Treasurer's office before you decide.

Yes, but only the PTC rebate. The exemption, the portability classification, and the deferral all require owning a home. The PTC rebate helps qualifying low-income seniors with rent and heating costs as well as property tax, so a senior who rents can still apply.

Next Steps

Start with the exemption. It costs nothing to claim and the July 15 deadline is firm.

  • Call your county assessor and ask for the senior exemption application.
  • File by July 15 with proof of age and 10 years in the home.
  • If you moved, ask specifically about the Qualified Senior Primary Residence Classification.
  • Look at the deferral or the PTC rebate if your bill is still more than you can manage.

If borrowing against the home is on the table, weigh it against the deferral. A reverse mortgage for senior care and the deferral both tap home equity, but they work very differently and carry different costs.

Learn More

Find personalized help lowering or deferring your Colorado property taxes at brevy.com.

The information on Brevy.com is for educational purposes only and is not a substitute for professional legal, financial, or medical advice. Rules vary by state and program and change frequently. Always verify with the relevant agency or a qualified professional. Brevy is not a law firm, financial advisor, or healthcare provider.

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Brevy Care Team

Expert eldercare guidance from Brevy's team of healthcare professionals and researchers.