SCR 22-002 CO

0likes☆Favorite🔕SubscribeShare

Introduced

There is currently a property tax exemption for an owner-occupied residence of a qualifying senior or veteran with a disability (homestead exemption) that is equal to 50% of the first $200,000 of the actual value of the property. For property tax years commencing on or after January 1, 2023, the concurrent resolution: Increases the maximum amount of actual value of the owner-occupied residence of a qualifying senior or veteran with a disability that is exempt from property taxation from $200,000 to $300,000 for the 2023 property tax year and to $300,000 plus cumulative inflation for each property tax year thereafter; and Makes the homestead exemption portable by allowing a senior who qualifies for the exemption to move and continue to claim the exemption without meeting the 10-year ownership and occupancy requirement, so long as the senior has continuously owned residential real property since qualifying for the exemption. The concurrent resolution also makes a conforming amendment so that the change in the actual value of which 50% is exempt does not affect the general assembly's ability to raise or lower this amount. (Note: This summary applies to this concurrent resolution as introduced.)

• Larry Liston Republican · primary
• Joann Ginal · primary

1. Apr 26, 2022 Senate Committee on State, Veterans, & Military Affairs Postpone Indefinitely · upper
2. Apr 11, 2022 Introduced In Senate - Assigned to State, Veterans, & Military Affairs · upper

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Introduced (04/11/2022) · PDF
• Committee Amendment · PDF