SCR 25-001

This Colorado bill proposes a property tax exemption for first responders and volunteer first responders based on their years of service. If passed, it would exempt 50%, 40%, or 10% of the value of a first responder's primary residence depending on how long they served, with higher exemptions for those who served longer or were injured in the line of duty. The same applies to volunteer first responders but with different percentages based on years of service. Since it has been signed into law, this means that Colorado is now implementing these tax exemptions for eligible first responders and their surviving spouses.

Official Summary

The concurrent resolution exempts from taxation a percentage of the actual value of a former or currently serving first responder's primary residence as follows: 50% if the first responder served for at least 30 years, or if the first responder served for at least one year and, while providing first responder services, died or was critically injured in a way that prevented the first responder from serving post-injury; 40% if the first responder served for at least 20 years; and 10% if the first responder served for at least 10 years and remained in service as a first responder at the close of the applicable property tax year. The concurrent resolution exempts from taxation a percentage of the actual value of a volunteer first responder's primary residence as follows: 30% if the volunteer first responder served for at least 30 years; and 20% if the volunteer first responder served for at least 20 years. These exemptions apply to surviving spouses of first responders and volunteer first responders. The general assembly is required to enact laws to implement the exemptions. (Note: This summary applies to this concurrent resolution as introduced.)

Related Legislation