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1. Who is eligible for the Disabled Veteran Property Tax Exemption?

If you sustained a service-connected disability while serving on active duty in the Armed Forces of the United States, the United States Department of Veterans Affairs rated your service-connected disability as one hundred percent permanent and total, and you have owned and occupied the property as your primary residence since at least January 1 of the year of application, you probably qualify. However, there are additional qualifications and exceptions for certain situations. For more details on eligibility, please visit our Disabled Veteran Property Tax Exemption webpage.

2. Who is eligible for the Senior Property Tax Exemption?

If you are at least 65 years old on January 1 of the year in which you hope to qualify and have owned and occupied the property as your primary residence for at least ten years prior to January 1, you probably qualify. However, there are additional qualifications and exceptions for certain situations. For more details on eligibility, please visit our Senior Property Tax Exemption webpage.

3. How do I apply for the Disabled Veteran Property Tax Exemption?

To apply, please submit your application by July 1 of the year in which you hope to gain the exemption to the Colorado Division of Veterans Affairs. The application is available from the Colorado Division of Veterans Affairs, which can be contacted at: 

Colorado Department of Military and Veterans Affairs
Division of Veterans Affairs
482 28 Road
Grand Junction, CO 81501  

Telephone: 970-257-3760                Fax: 970-245-0782 

Colorado Division of Veterans Affairs Property Tax Exemption Website

4. How do I apply for the Senior Property Tax Exemption?

To apply for the Senior Property Tax Exemption, you must fill out the application and return it to the Assessor’s Office by July 15 of the first year for which you hope to receive the exemption. For more detailed instructions and to download the application, please visit our Senior Property Tax Exemption webpage.

5. How much is the Senior or Disabled Veteran Property Tax Exemption?

As of 2020, the actual value of the property is reduced by 50 percent of the first $200,000 of value. For example: 

• If the assessor’s actual value of your home is $150,000, the full value is within the first $200,000, so the actual value of the property will be reduced by 50 percent of $150,000, or $75,000. After the reduction, the actual value from which the property taxes will be based on is $75,000. 
  • In the example above, your total savings would be 50 percent for the year - an exemption credit of $536.25 ($1072.50 in taxes without the exemption and $536.25 with the exemption), based on a mill levy of 100.000. 
• If the assessor’s actual value of your home is $400,000, the actual value will be reduced by 50 percent of the first $200,000, or $100,000. After the reduction, the actual value from which the property taxes will be based on is $300,000.  
  • In the example above, you would be receiving the maximum exemption credit possible for the year - an exemption credit of $715 ($2,860 in taxes without the exemption compared to $2,145 with the exemption), based on a mill levy of 100.000. 

6. I applied for the Senior Property Tax Exemption previously. Do I have to apply again?

Probably not, but maybe. In general, the exemption automatically carries over from year to year, so most people will only have to apply once; however, if the original applicant dies, their spouse must re-apply to keep the exemption. In addition, if there is a change in ownership, for example if the property was transferred to a trust or other legal entity, the applicant must reapply.

7. How can I calculate my property tax savings resulting from the Senior or Disabled Veteran Property Tax Exemption?

To calculate the amount of the reduction for your property: 

1. Multiply the amount of the appraised value subject to exemption as established by the legislature by .50 (50%). As of 2020, the amount subject to exemption will be either $200,000 or the total actual value of your home, whichever amount is lower. 
2. Multiply the result by .0715 (7.15%) (this is the estimated assessment rate, again, this is set by the State Legislature annually). 
3. Multiply this result by .095 (95 mills which is a typical levy in Jefferson County, these levies are set annually by the taxing authorities involved, i.e. the school district, fire district, etc.) 
4. The result will be your tax savings from the exemption.