HB 23B-1007

House Bill 23B-1007 increases the property tax exemption for owner-occupied homes of qualifying seniors, disabled veterans, and surviving spouses of disabled veterans in Colorado. The bill raises the maximum exempt value from $200,000 to $325,000 for the 2023 property tax year. This means these homeowners will pay less property tax on their houses. Since the bill has been signed into law, it is now active and providing tax relief to eligible residents starting with the 2023 taxes.

Official Summary

For the 2023 property tax year, the bill increases the maximum amount of actual value of the owner-occupied residence of a qualifying senior, veteran with a disability, or surviving spouse of a veteran with a disability that is exempt from property taxation from $200,000 to $325,000. (Note: This summary applies to this bill as introduced.)