|Seniors, disabled veterans could qualify for property tax exemptions|
|Written by Holyoke Enterprise|
The Colorado Constitution establishes a property tax exemption for senior citizens and disabled veterans. For those who qualify, 50 percent of the first $200,000 in actual value of the primary residence is exempted from property tax. The State of Colorado pays the property taxes on the exempted value.
Qualifying seniors are urged to submit applications if they have not yet done so.
Senior citizen exemption is explained
Basic qualifications: Generally, each of the following statements must be true to qualify for the senior citizen exemption.
The qualifying senior:
1. Must be at least 65 years old on Jan. 1, 2014.
2. Must be the current owner of record and listed as the owner of record for at least 10 consecutive years prior to Jan. 1, 2014.
3. Must occupy the property as his/her primary residence and must have done so for at least 10 consecutive years prior to Jan. 1, 2014.
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