Second Extraordinary Session
Seventy-fourth General Assembly
STATE OF COLORADO
INTRODUCED
LLS NO. 24B-0002.01 Rebecca Bayetti x4348
HOUSE BILL 24B-1002
House Committees Senate Committees
Appropriations
A BILL FOR AN ACT
C
ONCERNING THE VALUATION FOR ASSESSMENT OF RESIDENTIAL REAL101
PROPERTY, AND, IN CONNECTION THEREWITH , LIMITING TO102
QUALIFIED PRIMARY RESIDENCE REAL PROPERTY THE EXISTING103
REDUCTION IN THE VALUATION FOR ASSESSMENT OF ALL104
RESIDENTIAL REAL PROPERTY BY THE LESSER OF TEN PERCENT105
OF ITS ACTUAL VALUE OR SEVENTY THOUSAND DOLLARS .106
Bill Summary
(Note: This summary applies to this bill as introduced and does
not reflect any amendments that may be subsequently adopted. If this bill
passes third reading in the house of introduction, a bill summary that
applies to the reengrossed version of this bill will be available at
http://leg.colorado.gov
.)
Contingent on Senate Bill 24-233 becoming law, the bill is
HOUSE SPONSORSHIP
Woodrow and Mabrey,
SENATE SPONSORSHIP
(None),
Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
Capital letters or bold & italic numbers indicate new material to be added to existing law.
Dashes through the words or numbers indicate deletions from existing law. referred to the voters for their approval or rejection at the November 2025
statewide election. Senate Bill 24-233 becomes law only if neither of the
following occur:
! An initiative that reduces valuations for assessment is
approved by the people at the general election held on
November 5, 2024; and
! An initiative that requires voter approval for retaining
property tax revenue that exceeds a limit is approved by the
people at the general election held on November 5, 2024.
If the bill is referred to the voters and approved, then for property
tax years commencing on or after January 1, 2026, it creates a new
subclass of residential real property called qualified primary residence
real property, which includes residential real property that, as of the
assessment date, is used as the primary residence of an owner-occupier,
as defined in the bill, if:
! The owner-occupier applies to the county assessor for the
classification in the manner required by the bill;
! The circumstances that qualify the property for the
classification have not changed since the filing of the
application; and
! The property is not classified as qualified-senior primary
residence real property for the current property tax year.
The bill modifies the residential property valuation for the purpose
of a levy imposed by a local governmental entity, enacted in Senate Bill
24-233, so that the reduction in valuation for assessment of the lesser of
10% of the actual value of the property or $70,000, as adjusted for
inflation, applies only to real property classified as qualified primary
residence real property.
Be it enacted by the General Assembly of the State of Colorado:1
SECTION 1. In Colorado Revised Statutes, 39-1-104.2, add2
(1)(e) as follows:3
39-1-104.2. Residential real property - valuation for4
assessment - legislative declaration - definitions. (1) As used in this5
section, unless the context otherwise requires:6
(e) "Q
UALIFIED PRIMARY RESIDENCE REAL PROPERTY " MEANS7
PROPERTY THAT IS CLASSIFIED AS SUCH UNDER SECTION 39-1-104.8.8
SECTION 2. In Colorado Revised Statutes, 39-1-104.2, as9
HB24B-1002-2- effective upon the date of the governor's proclamation for the general1
election held on November 5, 2024, only if neither of the following occur:2
An initiative that reduces valuations for assessment is approved by the3
people at the general election held on November 5, 2024; An initiative4
that requires voter approval for retaining property tax revenue that5
exceeds a limit is approved by the people at the general election held on6
November 5, 2024, amend (3)(u)(I) introductory portion, (3)(u)(I)(A),7
and (3)(u)(II); and add (3)(u)(I.5) as follows:8
39-1-104.2. Residential real property - valuation for9
assessment - legislative declaration - definitions. (3) (u) (I) For10
property tax years commencing on or after January 1, 2026, the valuation11
for assessment for all residential real property other than qualified-senior12
primary residence real property
AND QUALIFIED PRIMARY RESIDENCE REAL13
PROPERTY is:14
(A) For the purpose of a levy imposed by a local governmental15
entity, 6.95 percent of the amount equal to the actual value of the16
property; minus the lesser of ten percent of the actual value of the
17
property or seventy thousand dollars as increased for inflation in the first18
year of each subsequent reassessment cycle; and19
(I.5) F
OR PROPERTY TAX YEARS COMMENCING ON OR AFTER20
J
ANUARY 1, 2026, THE VALUATION FOR ASSESSMENT FOR QUALIFIED21
PRIMARY RESIDENCE REAL PROPERTY IS :22
(A) F
OR THE PURPOSE OF A LEVY IMPOSED BY A LOCAL23
GOVERNMENTAL ENTITY , 6.95 PERCENT OF THE AMOUNT EQUAL TO THE24
ACTUAL VALUE OF THE PROPERTY MINUS THE LESSER OF TEN PERCENT OF25
THE ACTUAL VALUE OF THE PROPERTY OR SEVENTY THOUSAND DOLLARS26
AS INCREASED FOR INFLATION IN THE FIRST YEAR OF EACH SUBSEQUENT27
HB24B-1002
-3- REASSESSMENT CYCLE; AND1
(B) F
OR THE PURPOSE OF A LEVY IMPOSED BY A SCHOOL DISTRICT ,2
7.15
PERCENT OF THE AMOUNT EQUAL TO THE ACTUAL VALUE OF THE3
PROPERTY; EXCEPT THAT THE VALUATION FOR ASSESSMENT FOR THE4
PURPOSE OF A LEVY IMPOSED BY A SCHOOL DISTRICT MAY BE5
TEMPORARILY REDUCED FOR A PROPERTY TAX YEAR AS SET FORTH IN6
SECTION 39-1-104.7.7
(II) For reassessment cycles commencing on or after January 1,8
2027, the property tax
administrator shall publish the inflation adjusted9
value used to calculate the valuation for assessment pursuant to10
subsection (3)(u)(I)(A) SUBSECTION (3)(u)(I.5)(A) of this section.11
SECTION 3. In Colorado Revised Statutes, add 39-1-104.8 as12
follows:13
39-1-104.8. Qualified primary residence real property -14
valuation for assessment - definitions. (1) Definitions. A
S USED IN THIS15
SECTION, UNLESS THE CONTEXT OTHERWISE REQUIRES :16
(a) (I) "O
WNER-OCCUPIER" MEANS AN INDIVIDUAL WHO:17
(A) I
S AN OWNER OF RECORD OF RESIDENTIAL REAL PROPERTY18
THAT THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL 'S PRIMARY19
RESIDENCE;20
(B) I
S NOT AN OWNER OF RECORD OF THE RESIDENTIAL REAL21
PROPERTY THAT THE INDIVIDUAL OCCUPIES AS THE INDIVI DUAL 'S PRIMARY22
RESIDENCE, BUT EITHER IS A SPOUSE OR CIVIL UNION PARTNER OF AN23
OWNER OF RECORD OF THE RESIDENTIAL REAL PROPERTY AND WHO ALSO24
OCCUPIES THE RESIDENTIAL REAL PROPERTY AS THE OWNER OF RECORD 'S25
PRIMARY RESIDENCE, OR IS THE SURVIVING SPOUSE OR PARTNER OF AN26
INDIVIDUAL WHO WAS AN OWNER OF RECORD OF THE RESIDENTIAL REAL27
HB24B-1002
-4- PROPERTY AND WHO OCCUPIED THE RESIDENTIAL REAL PROPERTY WITH1
THE SURVIVING SPOUSE OR PARTNER AS THEIR PRIMARY RESIDENCE UNTIL2
THE OWNER OF RECORD'S DEATH;3
(C) I
S NOT AN OWNER OF RECORD OF THE RESIDENTIAL REAL4
PROPERTY THAT THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL 'S PRIMARY5
RESIDENCE, ONLY BECAUSE THE PROPERTY HAS BEEN PURCHASED BY OR6
TRANSFERRED TO A TRUST, A CORPORATE PARTNERSHIP, OR ANY OTHER7
LEGAL ENTITY SOLELY FOR ESTATE PLANNING PURPOSES AND IS THE8
MAKER OF THE TRUST OR A PRINCIPAL OF THE CORPORATE PARTNERSHIP OR9
OTHER LEGAL ENTITY;10
(D) O
CCUPIES RESIDENTIAL REAL PROPERTY AS THE INDIVIDUAL 'S11
PRIMARY RESIDENCE AND IS THE SPOUSE OR CIVIL UNION PARTNER OF AN12
INDIVIDUAL WHO ALSO OCCUPIES THE RESIDENTIAL REAL PROPERTY , WHO13
IS NOT THE OWNER OF RECORD OF THE PROPERTY ONLY BECAUSE THE14
PROPERTY HAS BEEN PURCHASED BY OR TRANSFERRED TO A TRUST , A15
CORPORATE PARTNERSHIP , OR ANY OTHER LEGAL ENTITY SOLELY FOR16
ESTATE PLANNING PURPOSES, AND WHO IS THE MAKER OF THE TRUST OR A17
PRINCIPAL OF THE CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY ; OR18
(E) O
CCUPIES RESIDENTIAL REAL PROPERTY AS THE INDIVIDUAL 'S19
PRIMARY RESIDENCE AND IS THE SURVIVING SPOUSE OR PARTNER OF AN20
INDIVIDUAL WHO OCCUPIED THE RESIDENTIAL REAL PROPERTY WITH THE21
SURVIVING SPOUSE OR PARTNER UNTIL THE INDIVIDUAL 'S DEATH, WHO22
WAS NOT THE OWNER OF RECORD OF THE PROPERTY AT THE TIME OF THE23
INDIVIDUAL'S DEATH ONLY BECAUSE THE PROPERTY HAD BEEN PURCHASED24
BY OR TRANSFERRED TO A TRUST , A CORPORATE PARTNERSHIP, OR ANY25
OTHER LEGAL ENTITY SOLELY FOR ESTATE PLANNING PURPOSES PRIOR TO26
THE INDIVIDUAL'S DEATH, AND WHO WAS THE MAKER OF THE TRUST OR A27
HB24B-1002
-5- PRINCIPAL OF THE CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY1
PRIOR TO THE INDIVIDUAL'S DEATH.2
(II) "O
WNER-OCCUPIER" ALSO INCLUDES ANY INDIVIDUAL WHO ,3
BUT FOR THE CONFINEMENT OF THE INDIVIDUAL TO A HOSPITAL , NURSING4
HOME, OR ASSISTED LIVING FACILITY, WOULD OCCUPY THE RESIDENTIAL5
REAL PROPERTY AS THE INDIVIDUAL 'S PRIMARY RESIDENCE AND WOULD6
MEET ONE OR MORE OF THE OWNERSHIP CRITERIA SPECIFIED IN7
SUBSECTION (1)(a)(I) OF THIS SECTION, IF THE RESIDENTIAL REAL8
PROPERTY:9
(A) I
S TEMPORARILY UNOCCUPIED ; OR10
(B) I
S OCCUPIED BY THE SPOUSE, THE CIVIL UNION PARTNER, OR A11
FINANCIAL DEPENDENT OF THE INDIVIDUAL .12
(b) "O
WNER OF RECORD" MEANS AN INDIVIDUAL WHOSE NAME13
APPEARS ON A VALID RECORDED DEED TO RESIDENTIAL REAL PROPERTY AS14
AN OWNER OF THE PROPERTY.15
(c) "S
URVIVING SPOUSE OR PARTNER" MEANS AN INDIVIDUAL WHO16
WAS LEGALLY MARRIED TO ANOTHER INDIVIDUAL , OR WAS A PARTNER IN17
A CIVIL UNION WITH ANOTHER INDIVIDUAL , AT THE TIME OF THE OTHER18
INDIVIDUAL'S DEATH AND WHO HAS NOT REMARRIED OR ENTERED INTO19
ANOTHER CIVIL UNION.20
(2) Classification. (a) F
OR PROPERTY TAX YEARS COMMENCING21
ON OR AFTER JANUARY 1, 2026, RESIDENTIAL REAL PROPERTY THAT AS OF22
THE ASSESSMENT DATE IS USED AS THE PRIMARY RESIDENCE OF AN23
OWNER-OCCUPIER IS CLASSIFIED AS QUALIFIED PRIMARY RESIDENCE REAL24
PROPERTY, WHICH IS A SUBCLASS OF RESIDENTIAL REAL PROPERTY , IF:25
(I) T
HE OWNER-OCCUPIER COMPLETES AND FILES AN APPLICATION26
IN THE MANNER REQUIRED BY SUBSECTION (3) OF THIS SECTION;27
HB24B-1002
-6- (II) THE CIRCUMSTANCES THAT QUALIFY THE PROPERTY FOR THE1
CLASSIFICATION HAVE NOT CHANGED SINCE THE FILING OF THE2
APPLICATION; AND3
(III) T
HE PROPERTY IS NOT CLASSIFIED AS QUALIFIED -SENIOR4
PRIMARY RESIDENCE REAL PROPERTY PURSUANT TO SECTION 39-1-104.65
FOR THE CURRENT PROPERTY TAX YEAR .6
(b) U
NDER NO CIRCUMSTANCES IS THE CLASSIFICATION AS7
QUALIFIED PRIMARY RESIDENCE REAL PROPERTY ALLOWED FOR PROPERTY8
TAXES ASSESSED DURING ANY PROPERTY TAX YEAR PRIOR TO THE YEAR IN9
WHICH AN OWNER-OCCUPIER FIRST FILES AN APPLICATION IN THE MANNER10
REQUIRED BY SUBSECTION (3) OF THIS SECTION. IF OWNERSHIP OF11
RESIDENTIAL REAL PROPERTY THAT QUALIFIED AS QUALIFIED PRIMARY12
RESIDENCE REAL PROPERTY AS OF THE ASSESSMENT DATE CHANGES AFTER13
THE ASSESSMENT DATE, THE CLASSIFICATION IS ALLOWED ONLY IF AN14
OWNER-OCCUPIER WHOSE STATUS AS AN OWNER -OCCUPIER QUALIFIES THE15
PROPERTY FOR THE CLASSIFICATION HAS FILED AN APPLICATION BY THE16
DEADLINE SPECIFIED IN SUBSECTION (3)(a) OF THIS SECTION.17
(c) I
F AN INDIVIDUAL OWNS AND OCCUPIES A DWELLING UNIT IN A18
COMMON INTEREST COMMUNITY , AS DEFINED IN SECTION 38-33.3-103 (8),19
AS THE INDIVIDUAL'S PRIMARY RESIDENCE, ONLY THE DWELLING UNIT20
THAT THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL 'S PRIMARY21
RESIDENCE MAY QUALIFY AS QUALIFIED PRIMARY RESIDENCE REAL22
PROPERTY.23
(d) F
OR PURPOSES OF THIS SUBSECTION (2), TWO INDIVIDUALS WHO24
ARE LEGALLY MARRIED OR ARE CIVIL UNION PARTNERS BUT WHO OWN25
MORE THAN ONE PARCEL OF RESIDENTIAL REAL PROPERTY ARE DEEMED TO26
OCCUPY THE SAME PRIMARY RESIDENCE , AND ONLY THAT PROPERTY MAY27
HB24B-1002
-7- BE CLASSIFIED AS QUALIFIED PRIMARY RESIDENCE REAL PROPERTY . IF AN1
INDIVIDUAL IS AN OWNER-OCCUPIER OF A RESIDENTIAL REAL PROPERTY2
AND AN OWNER OF RECORD ON ANOTHER PROPERTY ALONG WITH A3
MEMBER OF THE INDIVIDUAL 'S FAMILY OTHER THAN THE INDIVIDUAL 'S4
SPOUSE OR CIVIL UNION PARTNER, THEN THE OTHER FAMILY MEMBER MAY5
BE AN OWNER-OCCUPIER OF THE OTHER PROPERTY .6
(3) Applications. (a) F
OR A PROPERTY TO BE CLASSIFIED AS7
QUALIFIED PRIMARY RESIDENCE REAL PROPERTY , AN INDIVIDUAL MUST8
FILE WITH THE ASSESSOR A COMPLETED APPLICATION NO LATER THAN9
M
ARCH 15 OF THE FIRST PROPERTY TAX YEAR FOR WHICH THE10
CLASSIFICATION IS SOUGHT. AN APPLICATION RETURNED BY MAIL IS11
DEEMED FILED ON THE DATE IT IS POSTMARKED .12
(b) (I) A
N APPLICANT MUST COMPLETE AN APPLICATION FOR13
PROPERTY TO BE CLASSIFIED AS QUALIFIED PRIMARY RESIDENCE REAL14
PROPERTY ON A FORM PRESCRIBED BY THE ADMINISTRATOR THAT15
INCLUDES THE FOLLOWING INFORMATION :16
(A) T
HE APPLICANT'S NAME, MAILING ADDRESS, AND SOCIAL17
SECURITY NUMBER;18
(B) T
HE ADDRESS AND SCHEDULE OR PARCEL NUMBER OF THE19
PROPERTY;20
(C) T
HE NAME AND SOCIAL SECURITY NUMBER OF THE APPLICANT 'S21
SPOUSE OR CIVIL UNION PARTNER WHO OCCUPIES THE PROPERTY AS THE22
SPOUSE OR CIVIL UNION PARTNER'S PRIMARY RESIDENCE;23
(D) I
F A TRUST IS THE OWNER OF RECORD OF THE PROPERTY , THE24
NAMES OF THE MAKER OF THE TRUST , THE TRUSTEE, AND THE25
BENEFICIARIES OF THE TRUST;26
(E) I
F A CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY IS THE27
HB24B-1002
-8- OWNER OF RECORD OF THE PROPERTY , THE NAMES OF THE PRINCIPALS OR1
THE CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY ;2
(F) A
N AFFIRMATION, IN A FORM PRESCRIBED BY THE3
ADMINISTRATOR, THAT THE APPLICANT BELIEVES, UNDER PENALTY OF4
PERJURY IN THE SECOND DEGREE AS DEFINED IN SECTION 18-8-503, THAT5
ALL INFORMATION PROVIDED BY THE APPLICANT IS CORRECT ; AND6
(G) A
NY OTHER INFORMATION THAT THE ADMINISTRATOR7
REASONABLY DEEMS NECESSARY .8
(II) T
HE ADMINISTRATOR SHALL ALSO INCLUDE IN THE9
APPLICATION A STATEMENT THAT AN APPLICANT OR , IF APPLICABLE, THE10
TRUSTEE HAS A LEGAL OBLIGATION TO INFORM THE ASSESSOR WITHIN11
SIXTY DAYS OF ANY CHANGE IN THE OWNERSHIP OR OCCUPANCY OF THE12
RESIDENTIAL REAL PROPERTY FOR WHICH CLASSIFICATION AS QUALIFIED13
PRIMARY RESIDENCE REAL PROPERTY HAS BEEN APPLIED FOR OR ALLOWED14
THAT WOULD PREVENT THE CLASSIFICATION FROM BEING ALLOWED FOR15
THE PROPERTY.16
(4) Penalties. (a) I
N ADDITION TO ANY PENALTIES PRESCRIBED BY17
LAW FOR PERJURY IN THE SECOND DEGREE , AN APPLICANT WHO18
KNOWINGLY PROVIDES FALSE INFORMATION ON AN APPLICATION OR19
ATTEMPTS TO CLAIM MORE THAN ONE PROPERTY AS QUALIFIED PRIMARY20
RESIDENCE REAL PROPERTY FOR THE SAME PROPERTY TAX YEAR SHALL :21
(I) N
OT BE ABLE TO CLAIM THE PROPERTY AS QUALIFIED PRIMARY22
RESIDENCE REAL PROPERTY FOR THE PROPERTY TAX YEAR ;23
(II) P
AY, TO THE TREASURER OF A COUNTY IN WHICH THE24
PROPERTY WAS IMPROPERLY CLASSIFIED AS QUALIFIED PRIMARY25
RESIDENCE REAL PROPERTY DUE TO THE PROVISION BY THE APPLICANT OF26
FALSE INFORMATION OR THE FILING OF MORE THAN ONE APPLICATION , AN27
HB24B-1002
-9- AMOUNT EQUAL TO THE AMOUNT OF PROPERTY TAXES NOT PAID AS A1
RESULT OF THE IMPROPER CLASSIFICATION AS QUALIFIED PRIMARY2
RESIDENCE REAL PROPERTY; AND3
(III) U
PON CONVICTION OF PERJURY, BE REQUIRED TO PAY TO THE4
TREASURER OF ANY COUNTY IN WHICH AN INVALID APPLICATION WAS5
FILED AN ADDITIONAL AM OUNT EQUAL TO TWICE THE AMOUNT OF THE6
PROPERTY TAXES IDENTIFIED IN SUBSECTION (4)(a)(II) OF THIS SECTION7
PLUS INTEREST, CALCULATED AT THE ANNUAL RATE SPECIFIED IN SECTION8
39-21-110.5
FROM THE DATE THE INVALID APPLICATION WAS FILED UNTIL9
THE DATE THE APPLICANT MAKES THE PAYMENT REQUIRED BY THIS10
SUBSECTION (4)(a)(III).11
(b) I
F AN APPLICANT OR A TRUSTEE FAILS TO INFORM THE12
ASSESSOR WITHIN SIXTY DAYS OF ANY CHANGE IN THE OWNERSHIP OR13
OCCUPANCY OF RESIDENTIAL REAL PROPERTY FOR WHICH CLASSIFICATION14
AS A QUALIFIED PRIMARY RESIDENCE REAL PROPERTY HAS BEEN APPLIED15
FOR OR ALLOWED THAT WOULD PREVENT THE CLASSIFICATION FROM BEING16
ALLOWED FOR THE PROPERTY AS REQUIRED BY SUBSECTION (3)(b) OF THIS17
SECTION:18
(I) T
HE CLASSIFICATION IS NOT ALLOWED WITH RESPECT TO THE19
RESIDENTIAL REAL PROPERTY FOR THE SUBSEQUENT PROPERTY TAX YEAR ;20
AND21
(II) T
HE APPLICANT OR TRUSTEE SHALL PAY , TO THE TREASURER22
OF ANY COUNTY IN WHICH THE CLASSIFICATION WAS IMPROPERLY23
ALLOWED DUE TO THE APPLICANT 'S OR TRUSTEE'S FAILURE TO24
IMMEDIATELY INFORM THE ASSESSOR OF ANY CHANGE IN THE OWNERSHIP25
OR OCCUPANCY OF RESIDENTIAL REAL PROPERTY , AN AMOUNT EQUAL TO26
THE AMOUNT OF PROPERTY TAXES NOT PAID AS A RESULT OF THE27
HB24B-1002
-10- IMPROPER CLASSIFICATION AS QUALIFIED PRIMARY RESIDENCE REAL1
PROPERTY PLUS INTEREST, CALCULATED AT THE ANNUAL RATE SPECIFIED2
IN SECTION 39-21-110.5 FROM THE DATE ON WHICH THE CHANGE IN THE3
OWNERSHIP OR OCCUPANCY OCCURRED UNTIL THE DATE THE APPLICANT4
MAKES THE PAYMENT REQUIRED BY THIS SUBSECTION (4)(b)(II).5
(c) A
NY AMOUNT REQUIRED TO BE PAID TO A TREASURER6
PURSUANT TO SUBSECTION (4)(a) OR (4)(b) OF THIS SECTION IS DEEMED7
PART OF THE LIEN OF GENERAL TAXES IMPOSED ON THE PERSON REQUIRED8
TO PAY THE AMOUNT AND HAS THE PRIORITY SPECIFIED IN SECTION9
39-1-107
(2).10
(5) Confidentiality. (a) C
OMPLETED APPLICATIONS FOR11
CLASSIFICATION AS QUALIFIED PRIMARY RESIDENCE REAL PROPERTY ARE12
CONFIDENTIAL; EXCEPT THAT:13
(I) (A) A
N ASSESSOR OR THE ADMINISTRATOR MAY RELEASE14
STATISTICAL COMPILATIONS OR INFORMATIONAL SUMMARIES OF ANY15
INFORMATION CONTAINED IN THE APPLICATIONS AND SHALL PROVIDE A16
COPY OF AN APPLICATION TO THE APPLICANT WHO RETURNED THE17
APPLICATION AND TO THE TREASURER OF THE SAME COUNTY AS THE18
ASSESSOR; AND19
(B) A
N ASSESSOR OR THE ADMINISTRATOR MAY INTRODUCE A20
COPY OF AN APPLICATION AS EVIDENCE IN ANY ADMINISTRATIVE HEARING21
OR LEGAL PROCEEDING IN WHICH THE ACCURACY OR VERACITY OF THE22
APPLICATION IS AT ISSUE SO LONG AS NEITHER THE APPLICANT 'S SOCIAL23
SECURITY NUMBER NOR ANY OTHER SOCIAL SECURITY NUMBER SET FORTH24
IN THE APPLICATION IS DIVULGED;25
(II) A
TREASURER SHALL KEEP CONFIDENTIAL EACH INDIVIDUAL26
APPLICATION RECEIVED FROM AN ASSESSOR BUT MAY RELEASE27
HB24B-1002
-11- STATISTICAL COMPILATIONS OR INFORMATIONAL SUMMARIES OF ANY1
INFORMATION CONTAINED IN APPLICATIONS AND MAY INTRODUCE A COPY2
OF AN APPLICATION AS EVIDENCE IN ANY ADMINISTRATIVE HEARING OR3
LEGAL PROCEEDING IN WHICH THE ACCURACY OR VERACITY OF THE4
APPLICATION IS AT ISSUE SO LONG AS NEITHER THE APPLICANT 'S SOCIAL5
SECURITY NUMBER NOR ANY OTHER SOCIAL SECURITY NUMBER SET FORTH6
IN THE APPLICATION IS DIVULGED; AND7
(III) T
HE ADMINISTRATOR MAY SHARE INFORMATION CONTAINED8
IN AN APPLICATION FOR CLASSIFICATION OF REAL PROPERTY AS QUALIFIED9
PRIMARY RESIDENCE REAL PROPERTY , INCLUDING ANY SOCIAL SECURITY10
NUMBER SET FORTH IN THE APPLICATION , WITH THE DEPARTMENT OF11
REVENUE TO THE EXTENT NECESSARY TO ENABLE THE ADMINISTRATOR TO12
VERIFY THAT THE APPLICANT SATISFIES LEGAL REQUIREMENTS FOR THE13
CLASSIFICATION.14
(b) N
OTWITHSTANDING THE PROVISIONS OF SUBSECTION (5)(a) OF15
THIS SECTION, THE ADMINISTRATOR, AN ASSESSOR, OR A TREASURER16
SHALL NOT GIVE ANY OTHER PERSON ANY LISTING OF APPLICANTS OR ANY17
OTHER INFORMATION THAT WOULD ENABLE A PERSON TO EASILY18
ASSEMBLE A MAILING LIST OF APPLICANTS FOR THE QUALIFIED PRIMARY19
RESIDENCE REAL PROPERTY CLASSIFICATION .20
(6) Notice. (a) A
S SOON AS PRACTICABLE AFTER JANUARY 1, 2026,21
AND AFTER JANUARY 1 OF EACH YEAR THEREAFTER , EACH COUNTY22
TREASURER SHALL, AT THE TREASURER 'S DISCRETION, MAIL OR23
ELECTRONICALLY SEND TO EACH PERSON WHOSE NAME APPEARS ON THE24
TAX LIST AND WARRANT AS AN OWNER OF RESIDENTIAL REAL PROPERTY25
NOTICE OF THE QUALIFIED PRIMARY RESIDENCE REAL PROPERTY26
CLASSIFICATION. THE TREASURER SHALL MAIL OR ELECTRONICALLY SEND27
HB24B-1002
-12- THE NOTICE EACH YEAR ON OR BEFORE THE DATE ON WHICH THE1
TREASURER MAILS THE PROPERTY TAX STATEMENT FOR THE PREVIOUS2
PROPERTY TAX YEAR PURSUANT TO SECTION 39-10-103. THE3
ADMINISTRATOR SHALL PRESCRIBE THE FORM OF THE NOTICE , WHICH MUST4
INCLUDE A STATEMENT OF THE ELIGIBILITY CRITERIA FOR QUALIFIED5
PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATION , INSTRUCTIONS FOR6
OBTAINING A RELATED APPLICATION , AND AN EXPLANATION OF THE7
DIFFERENCES BETWEEN THIS CLASSIFICATION AND OTHER PROPERTY8
CLASSIFICATIONS OR TAX EXEMPTIONS , INCLUDING THE CLASSIFICATION9
FOR QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY DESCRIBED10
IN SECTION 39-1-104.6 AND THE PROPERTY TAX EXEMPTIONS ALLOWED BY11
SECTION 39-3-203.12
(b) T
O REDUCE MAILING COSTS, AN ASSESSOR MAY COORDINATE13
WITH THE TREASURER OF THE SAME COUNTY TO INCLUDE NOTICE WITH THE14
TAX STATEMENT FOR THE PREVIOUS PROPERTY TAX YEAR MAILED15
PURSUANT TO SECTION 39-10-103, OR MAY INCLUDE NOTICE WITH THE16
NOTICE OF VALUATION MAILED PURSUANT TO SECTION 39-5-121 (1)(a).17
(7) Notice of classification - appeal. (a) (I) E
XCEPT AS18
OTHERWISE PROVIDED IN SUBSECTION (7)(b) OF THIS SECTION, AN19
ASSESSOR SHALL ONLY CLASSIFY PROPERTY AS QUALIFIED PRIMARY20
RESIDENCE REAL PROPERTY IF AN APPLICANT HAS TIMELY RETURNED AN21
APPLICATION IN ACCORDANCE WITH SUBSECTION (3) OF THIS SECTION22
THAT ESTABLISHES THAT THE CLASSIFICATION IS APPROPRIATE .23
(II) I
F THE INFORMATION PROVIDED ON OR WITH AN APPLICATION24
INDICATES THAT THE APPLICANT IS NOT ENTITLED TO THE CLASSIFICATION ,25
OR IS INSUFFICIENT TO ALLOW THE ASSESSOR TO DETERMINE WHETHER THE26
PROPERTY MEETS THE CLASSIFICATION , THE ASSESSOR SHALL DENY THE27
HB24B-1002
-13- APPLICATION AND MAIL TO THE APPLICANT A STATEMENT PROVIDING THE1
REASONS FOR THE DENIAL AND INFORMING THE APPLICANT OF THE2
APPLICANT'S RIGHT TO CONTEST THE DENIAL PURSUANT TO SUBSECTION3
(7)(b)
OF THIS SECTION. THE ASSESSOR SHALL MAIL THE STATEMENT NO4
LATER THAN AUGUST 1 OF THE PROPERTY TAX YEAR FOR WHICH THE5
APPLICATION WAS FILED.6
(b) (I) A
N APPLICANT WHOSE APPLICATION HAS BEEN DENIED MAY7
CONTEST THE DENIAL BY REQUESTING A HEARING BEFORE THE COUNTY8
COMMISSIONERS SITTING AS THE COUNTY BOARD OF EQUALIZATION NO9
LATER THAN AUGUST 15 OF THE PROPERTY TAX YEAR FOR WHICH THE10
APPLICATION WAS FILED. THE HEARING SHALL BE HELD ON OR AFTER11
A
UGUST 1 AND NO LATER THAN SEPTEMBER 1 OF THE PROPERTY TAX YEAR12
FOR WHICH THE APPLICATION WAS FILED , AND THE DECISION OF THE13
COUNTY BOARD OF EQUALIZATION IS NOT SUBJECT TO FURTHER14
ADMINISTRATIVE APPEAL BY EITHER THE APPLICANT OR THE ASSESSOR .15
(II) A
N INDIVIDUAL WHO HAS NOT TIMELY FILED AN APPLICATION16
WITH THE ASSESSOR BY MARCH 15 MAY FILE A LATE APPLICATION NO17
LATER THAN THE JULY 15 THAT IMMEDIATELY FOLLOWS THAT DEADLINE .18
T
HE ASSESSOR SHALL ACCEPT ANY SUCH APPLICATION BUT MAY NOT19
ACCEPT ANY LATE APPLICATION FILED AFTER JULY 15. A DECISION OF AN20
ASSESSOR TO DISALLOW THE FILING OF A LATE APPLICATION AFTER JULY21
15
OR TO GRANT OR DENY THE CLASSIFICATION TO AN APPLICANT WHO HAS22
FILED A LATE APPLICATION AFTER MARCH 15 BUT NO LATER THAN JULY 1523
IS FINAL, AND AN APPLICANT WHO IS DENIED LATE FILING OR24
CLASSIFICATION OF PROPERTY AS QUALIFIED PRIMARY RESIDENCE REAL25
PROPERTY MAY NOT CONTEST THE DENIAL .26
(III) T
HE COUNTY BOARD OF EQUALIZATION MAY APPOINT27
HB24B-1002
-14- INDEPENDENT REFEREES TO CONDUCT HEARINGS REQUESTED PURSUANT1
TO SUBSECTION (7)(b)(I) OF THIS SECTION ON BEHALF OF THE COUNTY2
BOARD AND TO MAKE FINDINGS AND SUBMIT RECOMMENDATIONS TO THE3
COUNTY BOARD FOR ITS FINAL ACTION .4
(8) Reporting to administrator. (a) N
O LATER THAN SEPTEMBER5
10,
2026, AND SEPTEMBER 10 OF EACH YEAR THEREAFTER , EACH6
ASSESSOR SHALL FORWARD TO THE ADMINISTRATOR A REPORT ON THE7
RESIDENTIAL REAL PROPERTY IN THE ASSESSOR'S COUNTY THAT QUALIFIES8
FOR CLASSIFICATION AS QUALIFIED PRIMARY RESIDENCE REAL PROPERTY9
FOR THE CURRENT PROPERTY TAX YEAR . FOR EACH UNIT OF RESIDENTIAL10
REAL PROPERTY, THE REPORT MUST INCLUDE:11
(I) T
HE LEGAL DESCRIPTION OF THE PROPERTY ;12
(II) T
HE SCHEDULE OR PARCEL NUMBER FOR THE PROPERTY ;13
(III) T
HE NAME AND SOCIAL SECURITY NUMBER OF THE APPLICANT14
WHO CLAIMED THE CLASSIFICATION FOR THE PROPERTY AND , IF15
APPLICABLE, THE APPLICANT'S SPOUSE OR CIVIL UNION PARTNER WHO16
OCCUPIES THE PROPERTY;17
(IV) A
STATEMENT OF WHAT THE VALUATION FOR ASSESSMENT OF18
THE PROPERTY WOULD BE IF IT HAD NOT QUALIFIED AS QUALIFIED PRIMARY19
RESIDENCE REAL PROPERTY AND THE VALUATION FOR ASSESSMENT OF THE20
PROPERTY AS QUALIFIED PRIMARY RESIDENCE REAL PROPERTY ; AND21
(V) A
NY OTHER INFORMATION THAT THE ADMINISTRATOR22
REASONABLY DEEMS NECESSARY .23
(b) (I) T
HE ADMINISTRATOR SHALL EXAMINE THE REPORTS SENT24
BY EACH ASSESSOR PURSUANT TO SUBSECTION (8)(a) OF THIS SECTION TO25
ENSURE THAT NO APPLICANT HAS APPLIED FOR A QUALIFIED PRIMARY26
RESIDENCE REAL PROPERTY CLASSIFICATION WITHOUT MEETING ALL27
HB24B-1002
-15- LEGAL REQUIREMENTS FOR OBTAINING THE CLASSIFICATION . NO LATER1
THAN NOVEMBER 1, 2026, AND NOVEMBER 1 OF EACH YEAR THEREAFTER,2
IF THE ADMINISTRATOR DETERMINES THAT AN APPLICANT HAS APPLIED3
FOR MORE THAN ONE PROPERTY TO BE CLASSIFIED AS QUALIFIED PRIMARY4
RESIDENCE REAL PROPERTY , THE ADMINISTRATOR SHALL PROVIDE5
WRITTEN NOTICE TO THE APPLICANT THAT THE APPLICANT HAS APPLIED6
FOR MORE THAN ONE SUCH CLASSIFICATION AND IS THEREFORE NOT7
ENTITLED TO THE CLASSIFICATION FOR ANY PROPERTY . IF THE8
ADMINISTRATOR DETERMINES THAT THE APPLICANT AND THE APPLICANT 'S9
SPOUSE OR CIVIL UNION PARTNER HAVE APPLIED FOR SEPARATE10
PROPERTIES TO BE CLASSIFIED AS QUALIFIED PRIMARY RESIDENCE REAL11
PROPERTY, THAT THE CLASSIFICATION WAS APPLIED FOR IN VIOLATION OF12
SUBSECTION (3) OF THIS SECTION, THAT THE APPLICANT HAS CLAIMED THE13
CLASSIFICATION FOR RESIDENTIAL REAL PROPERTY THAT THE APPLICANT14
DOES NOT OWN AND OCCUPY AS THE APPLICANT 'S PRIMARY RESIDENCE AS15
REQUIRED BY SUBSECTION (2)(a) OF THIS SECTION, OR THAT THE16
APPLICANT IS OTHERWISE INELIGIBLE FOR THE CLASSIFICATION , THE17
ADMINISTRATOR SHALL PROVIDE WRITTEN NOTICE TO AN APPLICANT THAT18
THE APPLICANT IS INELIGIBLE AND THE REASON FOR THE INELIGIBILITY .19
T
HE NOTICE MUST ALSO INCLUDE A STATEMENT SPECIFYING THE DEADLINE20
AND PROCEDURES FOR PROTESTING THE DENIAL OF THE CLASSIFICATION21
OR CLASSIFICATIONS CLAIMED.22
(II) A
N APPLICANT WHOSE APPLICATION FOR A QUALIFIED PRIMARY23
RESIDENCE REAL PROPERTY CLASSIFICATION IS DENIED BY THE24
ADMINISTRATOR PURSUANT TO SUBSECTION (8)(b)(I) OF THIS SECTION25
MAY FILE A WRITTEN PROTEST WITH THE ADMINISTRATOR NO LATER THAN26
N
OVEMBER 15 OF THE YEAR IN WHICH THE CLASSIFICATION WAS DENIED .27
HB24B-1002
-16- A WRITTEN PROTEST RETURNED BY MAIL IS DEEMED FILED ON THE DATE1
IT IS POSTMARKED. IF THE GROUND FOR THE DENIAL IS THAT THE2
APPLICANT, OR THE APPLICANT AND THE APPLICANT 'S SPOUSE OR CIVIL3
UNION PARTNER, CLAIMED MULTIPLE CLASSIFICATIONS, THE SOLE GROUND4
FOR A PROTEST IS THAT THE APPLICANT , OR THE APPLICANT AND THE5
APPLICANT'S SPOUSE OR CIVIL UNION PARTNER, FILED ONLY ONE CLAIM6
FOR THE CLASSIFICATION, AND THE PROTEST MUST SPECIFY THE PROPERTY7
IDENTIFIED BY THE ADMINISTRATOR IN THE NOTICE DENYING THE8
CLASSIFICATION FOR WHICH NO SUCH CLASSIFICATION WAS CLAIMED . IF9
THE GROUND FOR THE DENIAL IS THAT THE APPLICANT IS NOT AN10
OWNER-OCCUPIER OF THE RESIDENTIAL REAL PROPERTY FOR WHICH THE11
CLASSIFICATION IS CLAIMED, THE SOLE GROUNDS FOR A PROTEST ARE THAT12
THE APPLICANT ACTUALLY IS AN OWNER -OCCUPIER AND THAT THE13
APPLICANT QUALIFIES FOR THE CLASSIFICATION. IF A PROTEST IS DENIED,14
THE ADMINISTRATOR SHALL MAIL THE APPLICANT A WRITTEN STATEMENT15
OF THE BASIS FOR THE DENIAL AND A COPY OF EACH CLASSIFICATION16
APPLICATION FILED WITH AN ASSESSOR THAT THE APPLICANT CLAIMED17
HAD NOT BEEN FILED.18
(c) N
O LATER THAN DECEMBER 1, 2026, AND EACH DECEMBER 119
THEREAFTER, AND AFTER EXAMINING THE REPORTS SENT BY EACH20
ASSESSOR, DENYING APPLICATIONS FOR CLASSIFICATION OF PROPERTY AS21
QUALIFIED PRIMARY RESIDENCE REAL PROPERTY , AND DECIDING PROTESTS22
IN ACCORDANCE WITH SUBSECTION (8)(b) OF THIS SECTION, THE23
ADMINISTRATOR SHALL PROVIDE WRITTEN NOTICE TO THE ASSESSOR OF24
EACH COUNTY IN WHICH AN APPLICATION HAS BEEN DENIED BECAUSE THE25
APPLICANT WAS INELIGIBLE THAT INCLUDES THE IDENTITY OF EACH26
DENIED APPLICANT AND THE REASON FOR EACH DENIAL .27
HB24B-1002
-17- (d) NO LATER THAN JANUARY 10, 2027, AND EACH JANUARY 101
THEREAFTER, EACH ASSESSOR SHALL FORWARD TO THE ADMINISTRATOR2
A PARTIAL COPY OF THE TAX WARRANT FOR THE ASSESSOR 'S COUNTY THAT3
INCLUDES ONLY PROPERTY FOR WHICH THE ASSESSOR HAS GRANTED AN4
APPLICATION FOR CLASSIFICATION AS QUALIFIED PRIMARY RESIDENCE5
REAL PROPERTY. THE ADMINISTRATOR SHALL EXAMINE THE TAX6
WARRANTS TO ENSURE THAT NO ADDITIONAL CLASSIFICATIONS OF7
PROPERTY AS QUALIFIED PRIMARY RESIDENCE REAL PROPERTY HAVE BEEN8
ALLOWED SINCE THE ADMINISTRATOR EXAMINED THE REPORTS9
PREVIOUSLY RECEIVED FROM THE ASSESSORS AND THAT EACH ASSESSOR10
HAS REMOVED FROM THE TAX WARRANT ALL SUCH CLASSIFICATIONS THAT11
THE ADMINISTRATOR PREVIOUSLY DENIED . NO LATER THAN JANUARY 17,12
2027,
AND NO LATER THAN EACH JANUARY 17 THEREAFTER, THE13
ADMINISTRATOR SHALL NOTIFY EACH ASSESSOR AND EACH TREASURER OF14
ANY SUCH CLASSIFICATIONS TO BE REMOVED FROM THE TAX WARRANT .15
SECTION 4. Contingent referral to people under referendum16
- effective date. (1) This act takes effect only if Senate Bill 24-23317
becomes law and the ballot title submitted to the registered electors of the18
state at the election held on November 4, 2025, pursuant to subsection (2)19
of this section is approved by the voters at said election.20
(2) If Senate Bill 24-233 becomes law, then, at the election held21
on November 4, 2025, the secretary of state shall submit this act by its22
ballot title to the registered electors of the state for their approval or23
rejection. Each elector voting at the election may cast a vote either24
"Yes/For" or "No/Against" on the following ballot title: "Shall there be25
a change to the Colorado Revised Statutes concerning the valuation for26
assessment of residential real property, and, in connection therewith,27
HB24B-1002
-18- limiting to qualified primary residence real property the existing reduction1
in the valuation for assessment of all residential real property by the lesser2
of 10% of its actual value or $70,000?" Except as otherwise provided in3
section 1-40-123, Colorado Revised Statutes, if a majority of the electors4
voting on the ballot title vote "Yes/For", then the act will become part of5
the Colorado Revised Statutes.6
(3) If the voters at the election held on November 4, 2025,7
approve the measure described in subsection (2) of this section, then this8
act takes effect on the date of the official declaration of the vote thereon9
by the governor.10
HB24B-1002
-19-