Second Regular Session
Seventy-fourth General Assembly
STATE OF COLORADO
ENGROSSED
This Version Includes All Amendments Adopted
on Second Reading in the House of Introduction
LLS NO. 24-0674.02 Jason Gelender x4330
SENATE BILL 24-111
Senate Committees House Committees
Finance
Appropriations
A BILL FOR AN ACT
C
ONCERNING A REDUCTION IN THE VALUATION FOR ASSESSMENT OF101
QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY .102
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
.)
For property tax years commencing on or after January 1, 2025, the
bill creates a new subclass of residential real property called
qualified-senior 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
SENATE
Amended 2nd Reading
March 19, 2024
SENATE SPONSORSHIP
Kolker and Hansen,
HOUSE SPONSORSHIP
Lieder and Young,
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. classification in the manner required by the bill;
! The owner-occupier previously qualified for the property
tax exemption for qualifying seniors (exemption) for a
different property for a property tax year commencing on
or after January 1, 2016, and does not qualify for the
exemption for the current property tax year; and
! The circumstances that qualify the property for the
classification have not changed since the filing of the
application.
The bill also:
! Classifies property that might otherwise be classified as
multi-family residential real property that contains a unit
that qualifies as qualified-senior primary residence real
property as multi-family qualified-senior primary residence
real property and treats such property as qualified-senior
primary residence real property;
! Sets the valuation for assessment for qualified-senior
primary residence real property at 7.15% of the amount
equal to the actual value of the property minus the lesser of
$100,000 or the amount that causes the valuation for
assessment of the property to be $1,000;
! Establishes the processes by which an owner-occupier of
residential real property may apply to have the
owner-occupier's primary residence classified as
qualified-senior primary residence real property and by
which such an application is approved or denied;
! Requires the state to reimburse local governmental entities
that levy property taxes for total property tax revenue lost
due solely to the reduced valuation for assessment of
qualified-senior primary residence real property as
compared to the valuation for assessment of other
residential real property and specifies the process by which
the proper amount of reimbursement is calculated and
reimbursement is made; and
! For state fiscal years in which excess state revenues are
required to be refunded pursuant to the Taxpayer's Bill of
Rights, establishes the reimbursement to local
governmental entities as a means of refunding such excess
state revenues.
Be it enacted by the General Assembly of the State of Colorado:1
SECTION 1. In Colorado Revised Statutes, 25-2-103, add (4.7)2
111-2- as follows:1
25-2-103. Centralized registration system for all vital statistics2
- office of the state registrar of vital statistics created - appointment3
of registrar - rules. (4.7) N
OTWITHSTANDING ANY OTHER PROVISION OF4
LAW THAT LIMITS THE SHARING OF VITAL STATISTICS , AFTER RECEIVING5
THE LIST OF NAMES AND SOCIAL SECURITY NUMBERS OF INDIVIDUALS WHO6
HAD PROPERTY CLASSIFIED AS QUALIFIED -SENIOR PRIMARY RESIDENCE7
REAL PROPERTY THAT IS PROVIDED BY THE PROPERTY TAX8
ADMINISTRATOR PURSUANT TO SECTION 39-1-104.6 (5)(c), THE STATE9
REGISTRAR SHALL IDENTIFY ALL INDIVIDUALS ON THE LIST WHO HAVE DIED10
AND TRANSMIT A LIST OF THE NAMES AND SOCIAL SECURITY NUMBERS OF11
SUCH INDIVIDUALS TO THE ADMINISTRATOR .12
SECTION 2. In Session Laws of Colorado 2023, First13
Extraordinary Session, 39-1-104.2, Colorado Revised Statutes, amend14
(3)(q) introductory portion and (3)(r) introductory portion, as amended by15
section 1 of chapter 1, as follows:16
39-1-104.2. Residential real property - valuation for17
assessment - legislative declaration - definitions. (3) (q) E
XCEPT AS18
OTHERWISE PROVIDED IN SUBSECTION (3)(s) OF THIS SECTION, the19
valuation for assessment for multi-family residential real property is 7.1520
percent of the actual value of the property for property tax years21
commencing on or after January 1, 2019; except that the valuation for22
assessment of this property is temporarily reduced as follows:23
(r) E
XCEPT AS OTHERWISE PROVIDED IN SUBSECTION (3)(s) OF THIS24
SECTION, the valuation for assessment for all residential real property25
other than multi-family residential real property is 7.15 percent of the26
actual value of the property; except that the valuation for assessment of27
111
-3- this property is temporarily reduced as follows:1
SECTION 3. In Colorado Revised Statutes, 39-1-104.2, add2
(1)(a.5) and (3)(s) 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
(a.5) "Q
UALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY "7
MEANS PROPERTY THAT IS CLASSIFIED AS SUCH UNDER SECTION8
39-1-104.6.9
(3) (s) F
OR PROPERTY TAX YEARS COMMENCING ON OR AFTER10
J
ANUARY 1, 2025, THE VALUATION FOR ASSESSMENT FOR11
QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY , INCLUDING12
MULTI-FAMILY QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY ,13
IS 7.15 PERCENT OF THE AMOUNT EQUAL TO THE ACTUAL VALUE OF THE14
PROPERTY MINUS THE LESSER OF FIFTY PERCENT OF THE FIRST TWO
15
HUNDRED THOUSAND DOLLARS OF THAT ACTUAL VALUE OR THE AMOUNT16
THAT CAUSES THE VALUATION FOR ASSESSMENT OF THE PROPERTY TO BE17
ONE THOUSAND DOLLARS .18
SECTION 4. In Colorado Revised Statutes, add 39-1-104.6 as19
follows:20
39-1-104.6. Qualified-senior primary residence real property21
- valuation for assessment - reimbursement to local governments for22
reduced valuation - temporary mechanism for refunding excess state23
revenues - legislative declaration - definitions. (1) Definitions. A
S24
USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE REQUIRES :25
(a) "L
OCAL GOVERNMENTAL ENTITY " MEANS A GOVERNMENTAL26
ENTITY AUTHORIZED BY LAW TO IMPOSE AD VALOREM TAXES ON TAXABLE27
111
-4- PROPERTY LOCATED WITHIN ITS TERRITORIAL LIMITS .1
(b) (I) "O
WNER-OCCUPIER" MEANS AN INDIVIDUAL WHO:2
(A) I
S AN OWNER OF RECORD OF RESIDENTIAL REAL PROPERTY3
THAT THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL 'S PRIMARY4
RESIDENCE;5
(B) I
S NOT AN OWNER OF RECORD OF THE RESIDENTIAL REAL6
PROPERTY THAT THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL 'S PRIMARY7
RESIDENCE, BUT EITHER IS A SPOUSE OR CIVIL UNION PARTNER OF AN8
OWNER OF RECORD OF THE RESIDENTIAL REAL PROPERTY AND WHO ALSO9
OCCUPIES THE RESIDENTIAL REAL PROPERTY AS THE OWNER OF RECORD 'S10
PRIMARY RESIDENCE, OR IS THE SURVIVING SPOUSE OR PARTNER OF AN11
INDIVIDUAL WHO WAS AN OWNER OF RECORD OF THE RESIDENTIAL REAL12
PROPERTY AND WHO OCCUPIED THE RESIDENTIAL REAL PROPERTY WITH13
THE SURVIVING SPOUSE OR PARTNER AS THEIR PRIMARY RESIDENCE UNTIL14
THE OWNER OF RECORD'S DEATH;15
(C) I
S NOT AN OWNER OF RECORD OF THE RESIDENTIAL REAL16
PROPERTY THAT THE INDIVIDUAL OCCUPIES AS THE INDIVI DUAL 'S PRIMARY17
RESIDENCE, ONLY BECAUSE THE PROPERTY HAS BEEN PURCHASED BY OR18
TRANSFERRED TO A TRUST, A CORPORATE PARTNERSHIP, OR ANY OTHER19
LEGAL ENTITY SOLELY FOR ESTATE PLANNING PURPOSES AND IS THE20
MAKER OF THE TRUST OR A PRINCIPAL OF THE CORPORATE PARTNERSHIP OR21
OTHER LEGAL ENTITY;22
(D) O
CCUPIES RESIDENTIAL REAL PROPERTY AS THE INDIVIDUAL 'S23
PRIMARY RESIDENCE AND IS THE SPOUSE OR CIVIL UNION PARTNER OF A24
PERSON WHO ALSO OCCUPIES THE RESIDENTIAL REAL PROPERTY , WHO IS25
NOT THE OWNER OF RECORD OF THE PROPERTY ONLY BECAUSE THE26
PROPERTY HAS BEEN PURCHASED BY OR TRANSFERRED TO A TRUST , A27
111
-5- CORPORATE PARTNERSHIP , OR ANY OTHER LEGAL ENTITY SOLELY FOR1
ESTATE PLANNING PURPOSES, AND WHO IS THE MAKER OF THE TRUST OR A2
PRINCIPAL OF THE CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY ; OR3
(E) O
CCUPIES RESIDENTIAL REAL PROPERTY AS THE INDIVIDUAL 'S4
PRIMARY RESIDENCE AND IS THE SURVIVING SPOUSE OR PARTNER OF A5
PERSON WHO OCCUPIED THE RESIDENTIAL REAL PROPERTY WITH THE6
SURVIVING SPOUSE OR PARTNER UNTIL THE PERSON 'S DEATH, WHO WAS7
NOT THE OWNER OF RECORD OF THE PROPERTY AT THE TIME OF THE8
PERSON'S DEATH ONLY BECAUSE THE PROPERTY HAD BEEN PURCHASED BY9
OR TRANSFERRED TO A TRUST, A CORPORATE PARTNERSHIP, OR ANY OTHER10
LEGAL ENTITY SOLELY FOR ESTATE PLANNING PURPOSES PRIOR TO THE11
PERSON'S DEATH, AND WHO WAS THE MAKER OF THE TRUST OR A PRINCIPAL12
OF THE CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY PRIOR TO THE13
PERSON'S DEATH.14
(II) "O
WNER-OCCUPIER" ALSO INCLUDES ANY INDIVIDUAL WHO ,15
BUT FOR THE CONFINEMENT OF THE INDIVIDUAL TO A HOSPITAL , NURSING16
HOME, OR ASSISTED LIVING FACILITY, WOULD OCCUPY THE RESIDENTIAL17
REAL PROPERTY AS THE INDIVIDUAL 'S PRIMARY RESIDENCE AND WOULD18
MEET ONE OR MORE OF THE OWNERSHIP CRITERIA SPECIFIED IN19
SUBSECTION (1)(b)(I) OF THIS SECTION, IF THE RESIDENTIAL REAL20
PROPERTY:21
(A) I
S TEMPORARILY UNOCCUPIED ; OR22
(B) I
S OCCUPIED BY THE SPOUSE, CIVIL UNION PARTNER, OR A23
FINANCIAL DEPENDENT OF THE INDIVIDUAL .24
(c) "O
WNER OF RECORD" MEANS AN INDIVIDUAL WHOSE NAME25
APPEARS ON A VALID RECORDED DEED TO RESIDENTIAL REAL PROPERTY AS26
AN OWNER OF THE PROPERTY.27
111
-6- (d) "SENIOR HOMESTEAD EXEMPTION " MEANS THE PROPERTY TAX1
EXEMPTION FOR QUALIFYING SENIORS ALLOWED BY SECTION 39-3-203 (1).2
(e) "S
URVIVING SPOUSE OR PARTNER" MEANS AN INDIVIDUAL WHO3
WAS LEGALLY MARRIED TO ANOTHER INDIVIDUAL , OR WAS A PARTNER IN4
A CIVIL UNION WITH ANOTHER INDIVIDUAL , AT THE TIME OF THE OTHER5
INDIVIDUAL'S DEATH AND WHO HAS NOT REMARRIED OR ENTERED INTO6
ANOTHER CIVIL UNION.7
(f) "T
OTAL PROPERTY TAX REVENUE LOST " MEANS THE AMOUNT8
OF PROPERTY TAX REVENUE LOST FOR A PROPERTY TAX YEAR BY A LOCAL9
GOVERNMENTAL ENTITY DUE SOLELY TO THE REDUCED VALUATION FOR10
ASSESSMENT OF QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY ,11
INCLUDING MULTI-FAMILY QUALIFIED-SENIOR PRIMARY RESIDENCE REAL12
PROPERTY UNDER SECTION 39-2-104.2 (3)(s), AS COMPARED TO THE13
VALUATION FOR ASSESSMENT OF RESIDENTIAL REAL PROPERTY , INCLUDING14
MULTI-FAMILY RESIDENTIAL REAL PROPERTY UNDER THIS SECTION , AS15
CALCULATED BY EACH ASSESSOR , SUBJECT TO CORRECTION BY THE16
ADMINISTRATOR, PURSUANT TO SUBSECTION (9) OF THIS SECTION.17
(2) Classification. (a) F
OR PROPERTY TAX YEARS COMMENCING18
ON OR AFTER JANUARY 1, 2025, RESIDENTIAL REAL PROPERTY THAT AS OF19
THE ASSESSMENT DATE IS USED AS THE PRIMARY RESIDENCE OF AN20
OWNER-OCCUPIER IS CLASSIFIED AS QUALIFIED -SENIOR PRIMARY21
RESIDENCE REAL PROPERTY, WHICH IS A SUBCLASS OF RESIDENTIAL REAL22
PROPERTY, IF:23
(I) T
HE OWNER-OCCUPIER COMPLETES AND FILES AN APPLICATION24
IN THE MANNER REQUIRED BY SUBSECTION (3) OF THIS SECTION;25
(II) T
HE OWNER-OCCUPIER PREVIOUSLY QUALIFIED FOR AND
26
RECEIVED THE SENIOR HOMESTEAD EXEMPTION FOR A DIFFERENT27
111
-7- PROPERTY FOR A PROPERTY TAX YEAR COMMENCING ON OR AFTER1
J
ANUARY 1, 2016, AND DOES NOT QUALIFY FOR THE SENIOR HOMESTEAD2
EXEMPTION FOR THE CURRENT PROPERTY TAX YEAR ; AND3
(III) T
HE CIRCUMSTANCES THAT QUALIFY THE PROPERTY FOR THE4
CLASSIFICATION HAVE NOT CHANGED SINCE THE FILING OF THE5
APPLICATION.6
(b) U
NDER NO CIRCUMSTANCES IS THE CLASSIFICATION AS7
QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY ALLOWED FOR8
PROPERTY TAXES ASSESSED DURING ANY PROPERTY TAX YEAR PRIOR TO9
THE YEAR IN WHICH AN OWNER-OCCUPIER FIRST FILES AN APPLICATION IN10
THE MANNER REQUIRED BY SUBSECTION (3) OF THIS SECTION. IF11
OWNERSHIP OF RESIDENTIAL REAL PROPERTY THAT QUALIFIED AS12
QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY AS OF THE13
ASSESSMENT DATE CHANGES AFTER THE ASSESSMENT DATE , THE14
CLASSIFICATION IS ALLOWED ONLY IF AN OWNER-OCCUPIER WHOSE STATUS15
AS AN OWNER -OCCUPIER QUALIFIES THE PROPERTY FOR THE16
CLASSIFICATION HAS FILED AN APPLICATION BY THE DEADLINE SPECIFIED17
IN SUBSECTION (3)(a) OF THIS SECTION.18
(c) I
F AN INDIVIDUAL OWNS AND OCCUPIES A DWELLING UNIT IN A19
COMMON INTEREST COMMUNITY , AS DEFINED IN SECTION 38-33.3-103 (8),20
AS THE INDIVIDUAL'S PRIMARY RESIDENCE, ONLY THE DWELLING UNIT21
THAT THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL 'S PRIMARY22
RESIDENCE MAY QUALIFY AS QUALIFIED-SENIOR PRIMARY RESIDENCE REAL23
PROPERTY.24
(d) F
OR PURPOSES OF THIS SUBSECTION (2), TWO INDIVIDUALS WHO25
ARE LEGALLY MARRIED OR ARE CIVIL UNION PARTNERS BUT WHO OWN26
MORE THAN ONE PARCEL OF RESIDENTIAL REAL PROPERTY ARE DEEMED TO27
111
-8- OCCUPY THE SAME PRIMARY RESIDENCE , AND ONLY THAT PROPERTY MAY1
BE CLASSIFIED AS QUALIFIED -SENIOR PRIMARY RESIDENCE REAL2
PROPERTY. IF AN INDIVIDUAL IS AN OWNER-OCCUPIER OF A RESIDENTIAL3
REAL PROPERTY AND AN OWNER OF RECORD ON ANOTHER PROPERTY4
ALONG WITH A MEMBER OF THE INDIVIDUAL 'S FAMILY OTHER THAN THE5
INDIVIDUAL'S SPOUSE, THEN THE OTHER FAMILY MEMBER MAY BE AN6
OWNER-OCCUPIER OF THE OTHER PROPERTY .7
(e) A
UNIT OF REAL
PROPERTY THAT MIGHT OTHERWISE BE8
CLASSIFIED AS MULTI-FAMILY RESIDENTIAL REAL PROPERTY AND THAT9
QUALIFIES AS QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY10
UNDER THIS SECTION IS CLASSIFIED AS MULTI-FAMILY QUALIFIED-SENIOR11
PRIMARY RESIDENCE REAL PROPERTY .12
(3) Applications. (a) F
OR A PROPERTY TO BE CLASSIFIED AS13
QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY , AN INDIVIDUAL14
MUST FILE WITH THE ASSESSOR A COMPLETED APPLICATION NO LATER15
THAN JULY 15 OF THE FIRST PROPERTY TAX YEAR FOR WHICH THE16
CLASSIFICATION IS SOUGHT. AN APPLICATION RETURNED BY MAIL IS17
DEEMED FILED ON THE DATE IT IS POSTMARKED .18
(b) (I) A
N APPLICANT MUST COMPLETE AN APPLICATION FOR19
PROPERTY TO BE CLASSIFIED AS QUALIFIED-SENIOR PRIMARY RESIDENCE20
REAL PROPERTY ON A FORM PRESCRIBED BY THE ADMINISTRATOR THAT21
INCLUDES THE FOLLOWING INFORMATION :22
(A) T
HE APPLICANT'S NAME, MAILING ADDRESS, AND SOCIAL23
SECURITY NUMBER;24
(B) T
HE ADDRESS AND SCHEDULE OR PARCEL NUMBER OF THE25
PROPERTY;26
(C) T
HE NAME AND SOCIAL SECURITY NUMBER OF THE APPLICANT 'S27
111
-9- SPOUSE OR CIVIL UNION PARTNER WHO OCCUPIES THE PROPERTY AS THE1
SPOUSE OR CIVIL UNION PARTNER'S PRIMARY RESIDENCE;2
(D) I
F A TRUST IS THE OWNER OF RECORD OF THE PROPERTY , THE3
NAMES OF THE MAKER OF THE TRUST , THE TRUSTEE, AND THE4
BENEFICIARIES OF THE TRUST;5
(E) I
F A CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY IS THE6
OWNER OF RECORD OF THE PROPERTY , THE NAMES OF THE PRINCIPALS OR7
THE CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY ;8
(F) A
STATEMENT THAT THE APPLICANT PREVIOUSLY QUALIFIED9
FOR THE SENIOR HOMESTEAD EXEMPTION FOR A PROPERTY TAX YEAR10
COMMENCING ON OR AFTER JANUARY 1, 2016, FOR A DIFFERENT PROPERTY11
THAN THE PROPERTY THAT THE APPLICANT CURRENTLY OCCUPIES AS THE12
APPLICANT'S PRIMARY RESIDENCE;13
(G) A
N AFFIRMATION, IN A FORM PRESCRIBED BY THE14
ADMINISTRATOR, THAT THE APPLICANT BELIEVES , UNDER PENALTY OF15
PERJURY IN THE SECOND DEGREE AS DEFINED IN SECTION 18-8-503, THAT16
ALL INFORMATION PROVIDED BY THE APPLICANT IS CORRECT ; AND17
(H) A
NY OTHER INFORMATION THAT THE ADMINISTRATOR18
REASONABLY DEEMS NECESSARY .19
(II) T
HE ADMINISTRATOR SHALL ALSO INCLUDE IN THE20
APPLICATION A STATEMENT THAT AN APPLICANT OR , IF APPLICABLE, THE21
TRUSTEE HAS A LEGAL OBLIGATION TO INFORM THE ASSESSOR WITHIN22
SIXTY DAYS OF ANY CHANGE IN THE OWNERSHIP OR OCCUPANCY OF THE23
RESIDENTIAL REAL PROPERTY FOR WHICH CLASSIFICATION AS24
QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY HAS BEEN25
APPLIED FOR OR ALLOWED THAT WOULD PREVENT THE CLASSIFICATION26
FROM BEING ALLOWED FOR THE PROPERTY .27
111
-10- (c) FOR PURPOSES OF THE APPLICATION AND RELATED PROVISIONS1
IN THIS SECTION , REAL PROPERTY THAT IS MULTI -FAMILY2
QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY IS TREATED AS3
QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY .4
(4) Penalties. (a) I
N ADDITION TO ANY PENALTIES PRESCRIBED BY5
LAW FOR PERJURY IN THE SECOND DEGREE , AN APPLICANT WHO6
KNOWINGLY PROVIDES FALSE INFORMATION ON AN APPLICATION OR7
ATTEMPTS TO CLAIM MORE THAN ONE PROPERTY AS QUALIFIED -SENIOR8
PRIMARY RESIDENCE REAL PROPERTY FOR THE SAME PROPERTY TAX YEAR9
SHALL:10
(I) N
OT BE ABLE TO CLAIM THE PROPERTY AS QUALIFIED -SENIOR11
PRIMARY RESIDENCE REAL PROPERTY FOR THE PROPERTY TAX YEAR ;12
(II) P
AY, TO THE TREASURER OF A COUNTY IN WHICH PROPERTY13
WAS IMPROPERLY CLASSIFIED AS QUALIFIED-SENIOR PRIMARY RESIDENCE14
REAL PROPERTY DUE TO THE PROVISION BY THE APPLICANT OF FALSE15
INFORMATION OR THE FILING OF MORE THAN ONE APPLICATION , AN16
AMOUNT EQUAL TO THE AMOUNT OF PROPERTY TAXES NOT PAID AS A17
RESULT OF THE IMPROPER CLASSIFICATION AS QUALIFIED-SENIOR PRIMARY18
RESIDENCE REAL PROPERTY; AND19
(III) U
PON CONVICTION OF PERJURY, BE REQUIRED TO PAY TO THE20
TREASURER OF ANY COUNTY IN WHICH AN INVALID APPLICATION WAS21
FILED AN ADDITIONAL AMOUNT E QUAL TO TWICE THE AM OUNT OF THE22
PROPERTY TAXES IDENTIFIED IN SUBSECTION (4)(a)(II) OF THIS SECTION23
PLUS INTEREST, CALCULATED AT THE ANNUAL RATE CALCULATED24
PURSUANT TO SECTION 39-21-110.5 FROM THE DATE THE INVALID25
APPLICATION WAS FILED UNTIL THE DATE THE APPLICANT MAKES THE26
PAYMENT REQUIRED BY THIS SUBSECTION (4)(a)(III).27
111
-11- (b) IF AN APPLICANT OR A TRUSTEE FAILS TO INFORM THE1
ASSESSOR WITHIN SIXTY DAYS OF ANY CHANGE IN THE OWNERSHIP OR2
OCCUPANCY OF RESIDENTIAL REAL PROPERTY FOR WHICH CLASSIFICATION3
AS A QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY HAS BEEN4
APPLIED FOR OR ALLOWED THAT WOULD PREVENT THE CLASSIFICATION5
FROM BEING ALLOWED FOR THE PROPERTY AS REQUIRED BY SUBSECTION6
(3)(b)
OF THIS SECTION:7
(I) T
HE CLASSIFICATION IS NOT ALLOWED WITH RESPECT TO THE8
RESIDENTIAL REAL PROPERTY FOR THE SUBSEQUENT PROPERTY TAX YEAR ;9
AND10
(II) T
HE APPLICANT OR TRUSTEE SHALL PAY , TO THE TREASURER11
OF ANY COUNTY IN WHICH THE CLASSIFICATION WAS IMPROPERLY12
ALLOWED DUE TO THE APPLICANT 'S OR TRUSTEE'S FAILURE TO13
IMMEDIATELY INFORM THE ASSESSOR OF ANY CHANGE IN THE OWNERSHIP14
OR OCCUPANCY OF RESIDENTIAL REAL PROPERTY , AN AMOUNT EQUAL TO15
THE AMOUNT OF PROPERTY TAXES NOT PAID AS A RESULT OF THE16
IMPROPER CLASSIFICATION AS QUALIFIED -SENIOR PRIMARY RESIDENCE17
REAL PROPERTY PLUS INTEREST , CALCULATED AT THE ANNUAL RATE18
SPECIFIED IN SECTION 39-21-110.5 FROM THE DATE ON WHICH THE CHANGE19
IN THE OWNERSHIP OR OCCUPANCY OCCURRED UNTIL THE DATE THE20
APPLICANT MAKES THE PAYMENT REQUIRED BY THIS SUBSECTION21
(4)(b)(II).22
(c) A
NY AMOUNT REQUIRED TO BE PAID TO A TREASURER23
PURSUANT TO SUBSECTION (4)(a) OR (4)(b) OF THIS SECTION IS DEEMED24
PART OF THE LIEN OF GENERAL TAXES IMPOSED ON THE PERSON REQUIRED25
TO PAY THE AMOUNT AND HAS THE PRIORITY SPECIFIED IN SECTION26
39-1-107
(2).27
111
-12- (5) Confidentiality. (a) C OMPLETED APPLICATIONS FOR1
CLASSIFICATION AS QUALIFIED -SENIOR PRIMARY RESIDENCE REAL2
PROPERTY ARE CONFIDENTIAL; EXCEPT THAT:3
(I) (A) A
N ASSESSOR OR THE ADMINISTRATOR MAY RELEASE4
STATISTICAL COMPILATIONS OR INFORMATIONAL SUMMARIES OF ANY5
INFORMATION CONTAINED IN THE APPLICATIONS AND SHALL PROVIDE A6
COPY OF AN APPLICATION TO THE APPLICANT WHO RETURNED THE7
APPLICATION AND THE TREASURER OF THE SAME COUNTY AS THE8
ASSESSOR; AND9
(B) A
N ASSESSOR OR THE ADMINISTRATOR MAY INTRODUCE A10
COPY OF AN APPLICATION AS EVIDENCE IN ANY ADMINISTRATIVE HEARING11
OR LEGAL PROCEEDING IN WHICH THE ACCURACY OR VERACITY OF THE12
APPLICATION IS AT ISSUE SO LONG AS NEITHER THE APPLICANT 'S SOCIAL13
SECURITY NUMBER NOR ANY OTHER SOCIAL SECURITY NUMBER SET FORTH14
IN THE APPLICATION ARE DIVULGED;15
(II) A
TREASURER SHALL KEEP CONFIDENTIAL EACH INDIVIDUAL16
APPLICATION RECEIVED FROM AN ASSESSOR BUT MAY RELEASE17
STATISTICAL COMPILATIONS OR INFORMATIONAL SUMMARIES OF ANY18
INFORMATION CONTAINED IN APPLICATIONS AND MAY INTRODUCE A COPY19
OF AN APPLICATION AS EVIDENCE IN ANY ADMINISTRATIVE HEARING OR20
LEGAL PROCEEDING IN WHICH THE ACCURACY OR VERACITY OF THE21
APPLICATION IS AT ISSUE SO LONG AS NEITHER THE APPLICANT 'S SOCIAL22
SECURITY NUMBER NOR ANY OTHER SOCIAL SECURITY NUMBER SET FORTH23
IN THE APPLICATION IS DIVULGED; AND24
(III) T
HE ADMINISTRATOR MAY SHARE INFORMATION CONTAINED25
IN AN APPLICATION FOR CLASSIFICATION OF REAL PROPERTY AS26
QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY , INCLUDING ANY27
111
-13- SOCIAL SECURITY NUMBER SET FORTH IN THE APPLICATION , WITH THE1
DEPARTMENT OF REVENUE TO THE EXTENT NECESSARY TO ENABLE THE2
ADMINISTRATOR TO VERIFY THAT THE APPLICANT SATISFIES LEGAL3
REQUIREMENTS FOR THE CLASSIFICATION .4
(b) N
OTWITHSTANDING THE PROVISIONS OF SUBSECTION (5)(a) OF5
THIS SECTION, THE ADMINISTRATOR, AN ASSESSOR, OR A TREASURER6
SHALL NOT GIVE ANY OTHER PERSON ANY LISTING OF APPLICANTS OR ANY7
OTHER INFORMATION THAT WOULD ENABLE A PERSON TO EASILY8
ASSEMBLE A MAILING LIST OF APPLICANTS FOR THE QUALIFIED -SENIOR9
PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATION .10
(c) I
N ACCORDANCE WITH SECTION 25-2-103 (4.7), THE11
ADMINISTRATOR SHALL ANNUALLY PROVIDE TO THE STATE REGISTRAR OF12
VITAL STATISTICS OF THE DEPARTMENT OF PUBLIC HEALTH AND13
ENVIRONMENT A LIST, BY NAME AND SOCIAL SECURITY NUMBER, OF EVERY14
INDIVIDUAL WHO HAD PROPERTY CLASSIFIED AS QUALIFIED -SENIOR15
PRIMARY RESIDENCE REAL PROPERTY FOR THE IMMEDIATELY PRECEDING16
YEAR SO THAT THE REGISTRAR CAN PROVIDE TO THE ADMINISTRATOR A17
LIST OF ALL THE INDIVIDUALS ON THE LIST WHO HAVE DIED . NO LATER18
THAN APRIL 1, 2026, AND APRIL 1 OF EACH YEAR THEREAFTER , THE19
ADMINISTRATOR SHALL FORWARD TO THE ASSESSOR OF EACH COUNTY THE20
NAME AND SOCIAL SECURITY NUMBER OF EACH DECEASED INDIVIDUAL21
WHO HAD RESIDENTIAL REAL PROPERTY LOCATED WITHIN THE COUNTY22
THAT WAS SO CLASSIFIED FOR THE IMMEDIATELY PRECEDING YEAR SO23
THAT THE ASSESSOR CAN CHANGE THE CLASSIFICATION OF THE PROPERTY ,24
IF NECESSARY.25
(6) Notice. (a) A
S SOON AS PRACTICABLE AFTER JANUARY 1, 2025,26
AND AFTER JANUARY 1 OF EACH YEAR THEREAFTER , EACH COUNTY27
111
-14- TREASURER SHALL, AT THE TREASURER 'S DISCRETION, MAIL OR1
ELECTRONICALLY SEND TO EACH PERSON WHOSE NAME APPEARS ON THE2
TAX LIST AND WARRANT AS AN OWNER OF RESIDENTIAL REAL PROPERTY3
NOTICE OF THE QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY4
CLASSIFICATION. THE TREASURER SHALL MAIL OR ELECTRONICALLY SEND5
THE NOTICE EACH YEAR ON OR BEFORE THE DATE ON WHICH THE6
TREASURER MAILS THE PROPERTY TAX STATEMENT FOR THE PREVIOUS7
PROPERTY TAX YEAR PURSUANT TO SECTION 39-10-103. THE8
ADMINISTRATOR SHALL PRESCRIBE THE FORM OF THE NOTICE , WHICH MUST9
INCLUDE A STATEMENT OF THE ELIGIBILITY CRITERIA FOR THE PRIMARY10
RESIDENCE REAL PROPERTY AND QUALIFIED -SENIOR PRIMARY RESIDENCE11
REAL PROPERTY CLASSIFICATIONS AND INSTRUCTIONS FOR OBTAINING A12
RELATED APPLICATION.13
(b) T
O REDUCE MAILING COSTS, AN ASSESSOR MAY COORDINATE14
WITH THE TREASURER OF THE SAME COUNTY TO INCLUDE NOTICE WITH THE15
TAX STATEMENT FOR THE PREVIOUS PROPERTY TAX YEAR MAILED16
PURSUANT TO SECTION 39-10-103, OR MAY INCLUDE NOTICE WITH THE17
NOTICE OF VALUATION MAILED PURSUANT TO SECTION 39-5-121 (1)(a).18
(7) Notice of classification - appeal. (a) (I) E
XCEPT AS19
OTHERWISE PROVIDED IN SUBSECTION (7)(b) OF THIS SECTION, AN20
ASSESSOR SHALL ONLY CLASSIFY PROPERTY AS QUALIFIED -SENIOR21
PRIMARY RESIDENCE REAL PROPERTY IF AN APPLICANT HAS TIMELY22
RETURNED AN APPLICATION IN ACCORDANCE WITH SUBSECTION (3) OF THIS23
SECTION THAT ESTABLISHES THAT THE CLASSIFICATION IS APPROPRIATE .24
(II) I
F THE INFORMATION PROVIDED ON OR WITH AN APPLICATION25
INDICATES THAT THE APPLICANT IS NOT ENTITLED TO THE CLASSIFICATION ,26
OR IS INSUFFICIENT TO ALLOW THE ASSESSOR TO DETERMINE WHETHER THE27
111
-15- PROPERTY MEETS THE CLASSIFICATION , THE ASSESSOR SHALL DENY THE1
APPLICATION AND MAIL TO THE APPLICANT A STATEMENT PROVIDING THE2
REASONS FOR THE DENIAL AND INFORMING THE APPLICANT OF THE3
APPLICANT'S RIGHT TO CONTEST THE DENIAL PURSUANT TO SUBSECTION4
(7)(b)
OF THIS SECTION. THE ASSESSOR SHALL MAIL THE STATEMENT NO5
LATER THAN AUGUST 1 OF THE PROPERTY TAX YEAR FOR WHICH THE6
APPLICATION WAS FILED.7
(b) (I) A
N APPLICANT WHOSE APPLICATION HAS BEEN DENIED MAY8
CONTEST THE DENIAL BY REQUESTING A HEARING BEFORE THE COUNTY9
COMMISSIONERS SITTING AS THE COUNTY BOARD OF E QUALIZATION NO10
LATER THAN AUGUST 15 OF THE PROPERTY TAX YEAR FOR WHICH THE11
APPLICATION WAS FILED. THE HEARING SHALL BE HELD ON OR AFTER12
A
UGUST 1 AND NO LATER THAN SEPTEMBER 1 OF THE PROPERTY TAX YEAR13
FOR WHICH THE APPLICATION WAS FILED , AND THE DECISION OF THE14
COUNTY BOARD OF EQUALIZATION IS NOT SUBJECT TO FURTHER15
ADMINISTRATIVE APPEAL BY EITHER THE APPLICANT OR THE ASSESSOR .16
(II) A
N INDIVIDUAL WHO HAS NOT TIMELY FILED AN APPLICATION17
WITH THE ASSESSOR BY MARCH 15 MAY FILE A LATE APPLICATION NO18
LATER THAN THE JULY 15 THAT IMMEDIATELY FOLLOWS THAT DEADLINE .19
T
HE ASSESSOR SHALL ACCEPT ANY SUCH APPLICATION BUT MAY NOT20
ACCEPT ANY LATE APPLICATION FILED AFTER JULY 15. A DECISION OF AN21
ASSESSOR TO DISALLOW THE FILING OF A LATE APPLICATION AFTER JULY22
15
OR TO GRANT OR DENY THE CLASSIFICATION TO AN APPLICANT WHO HAS23
FILED A LATE APPLICATION AFTER MARCH 15 BUT NO LATER THAN JULY 1524
IS FINAL, AND AN APPLICANT WHO IS DENIED LATE FILING OR25
CLASSIFICATION OF PROPERTY AS QUALIFIED-SENIOR PRIMARY RESIDENCE26
REAL PROPERTY MAY NOT CONTEST THE DENIAL .27
111
-16- (III) THE COUNTY BOARD OF EQUALIZATION MAY APPOINT1
INDEPENDENT REFEREES TO CONDUCT HEARINGS REQUESTED PURSUANT2
TO SUBSECTION (7)(b)(I) OF THIS SECTION ON BEHALF OF THE COUNTY3
BOARD AND TO MAKE FINDINGS AND SUBMIT RECOMMENDATIONS TO THE4
COUNTY BOARD FOR ITS FINAL ACTION .5
(8) Reporting to administrator. (a) N
O LATER THAN SEPTEMBER
6
10,
2025, AND SEPTEMBER 10
OF EACH YEAR THEREAFTER , EACH7
ASSESSOR SHALL FORWARD TO THE ADMINISTRATOR A REPORT ON THE8
RESIDENTIAL REAL PROPERTY IN THE ASSESSOR'S COUNTY THAT QUALIFIES9
FOR CLASSIFICATION AS QUALIFIED-SENIOR PRIMARY RESIDENCE REAL10
PROPERTY FOR THE CURRENT PROPERTY TAX YEAR . FOR EACH UNIT OF11
RESIDENTIAL REAL PROPERTY, THE REPORT MUST INCLUDE:12
(I) T
HE LEGAL DESCRIPTION OF THE PROPERTY ;13
(II) T
HE SCHEDULE OR PARCEL NUMBER FOR THE PROPERTY ;14
(III) T
HE NAME AND SOCIAL SECURITY NUMBER OF THE APPLICANT15
WHO CLAIMED THE CLASSIFICATION FOR THE PROPERTY AND , IF16
APPLICABLE, THE APPLICANT'S SPOUSE OR CIVIL UNION PARTNER WHO17
OCCUPIES THE PROPERTY;18
(IV) A
STATEMENT OF WHAT THE VALUATION FOR ASSESSMENT OF19
THE PROPERTY WOULD BE IF IT HAD NOT QUALIFIED AS QUALIFIED -SENIOR20
PRIMARY RESIDENCE REAL PROPERTY AND THE VALUATION FOR21
ASSESSMENT OF THE PROPERTY AS QUALIFIED-SENIOR PRIMARY RESIDENCE22
REAL PROPERTY; AND23
(V) A
NY OTHER INFORMATION THAT THE ADMINISTRATOR24
REASONABLY DEEMS NECESSARY .25
(b) (I) T
HE ADMINISTRATOR SHALL EXAMINE THE REPORTS SENT26
BY EACH ASSESSOR PURSUANT TO SUBSECTION (8)(a) OF THIS SECTION TO27
111
-17- ENSURE THAT NO APPLICANT HAS APPLIED FOR A QUALIFIED -SENIOR1
PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATION WITHOUT MEETING2
ALL LEGAL REQUIREMENTS FOR OBTAINING THE CLASSIFICATION . NO3
LATER THAN NOVEMBER 1, 2025, AND NOVEMBER 1 OF EACH YEAR4
THEREAFTER, IF THE ADMINISTRATOR DETERMINES THAT AN APPLICANT5
HAS APPLIED FOR MORE THAN ONE PROPERTY TO BE CLASSIFIED AS6
QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY , THE7
ADMINISTRATOR SHALL PROVIDE WRITTEN NOTICE TO THE APPLICANT8
THAT THE APPLICANT HAS APPLIED FOR MORE THAN ONE SUCH9
CLASSIFICATION AND IS THEREFORE NOT ENTITLED TO THE CLASSIFICATION10
FOR ANY PROPERTY. IF THE ADMINISTRATOR DETERMINES THAT THE11
APPLICANT AND THE APPLICANT 'S SPOUSE HAVE APPLIED FOR SEPARATE12
PROPERTIES TO BE CLASSIFIED AS QUALIFIED-SENIOR PRIMARY RESIDENCE13
REAL PROPERTY, THAT THE CLASSIFICATION WAS APPLIED FOR IN14
VIOLATION OF SUBSECTION (4) OF THIS SECTION, THAT THE APPLICANT HAS15
CLAIMED THE CLASSIFICATION FOR RESIDENTIAL REAL PROPERTY THAT THE16
APPLICANT DOES NOT OWN AND OCCUPY AS THE APPLICANT 'S PRIMARY17
RESIDENCE AS REQUIRED BY SUBSECTION (2)(a) OF THIS SECTION, OR THAT18
THE APPLICANT IS OTHERWISE INELIGIBLE FOR THE CLASSIFICATION , THE19
ADMINISTRATOR SHALL PROVIDE WRITTEN NOTICE TO AN APPLICANT THAT20
THE APPLICANT IS INELIGIBLE AND THE REASON FOR THE INELIGIBILITY .21
T
HE NOTICE MUST ALSO INCLUDE A STATEMENT SPECIFYING THE DEADLINE22
AND PROCEDURES FOR PROTESTING THE DENIAL OF THE CLASSIFICATION23
OR CLASSIFICATIONS CLAIMED.24
(II) A
N APPLICANT WHOSE APPLICATION FOR A QUALIFIED -SENIOR25
PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATION IS DENIED BY THE26
ADMINISTRATOR PURSUANT TO SUBSECTION (8)(b)(I) OF THIS SECTION27
111
-18- MAY FILE A WRITTEN PROTEST WITH THE ADMINISTRATOR NO LATER THAN1
N
OVEMBER 15 OF THE YEAR IN WHICH THE CLASSIFICATION WAS DENIED .2
A
WRITTEN PROTEST
RETURNED BY MAIL IS DEEMED FILED ON THE DATE3
IT IS POSTMARKED. IF THE GROUND FOR THE DENIAL IS THAT THE4
APPLICANT, OR THE APPLICANT AND THE APPLICANT 'S SPOUSE OR CIVIL5
UNION PARTNER, CLAIMED MULTIPLE CLASSIFICATIONS, THE SOLE GROUND6
FOR A PROTEST IS THAT THE APPLICANT , OR THE APPLICANT AND THE7
APPLICANT'S SPOUSE OR CIVIL UNION PARTNER, FILED ONLY ONE CLAIM8
FOR THE CLASSIFICATION, AND THE PROTEST MUST SPECIFY THE PROPERTY9
IDENTIFIED BY THE ADMINISTRATOR IN THE NOTICE DENYING THE10
CLASSIFICATION FOR WHICH NO CLASSIFICATION WAS CLAIMED . IF THE11
GROUND FOR THE DENIAL IS THAT THE APPLICANT IS NOT AN12
OWNER-OCCUPIER OF THE RESIDENTIAL REAL PROPERTY FOR WHICH THE13
CLASSIFICATION IS CLAIMED, THE SOLE GROUNDS FOR A PROTEST ARE THAT14
THE APPLICANT ACTUALLY IS AN OWNER -OCCUPIER AND THAT THE15
APPLICANT QUALIFIES FOR THE CLASSIFICATION. IF A PROTEST IS DENIED,16
THE ADMINISTRATOR SHALL MAIL THE APPLICANT A WRITTEN STATEMENT17
OF THE BASIS FOR THE DENIAL AND A COPY OF EACH CLASSIFICATION18
APPLICATION FILED WITH AN ASSESSOR THAT THE APPLICANT CLAIMED19
HAD NOT BEEN FILED.20
(c) N
O LATER THAN DECEMBER 1, 2025, AND EACH DECEMBER 121
THEREAFTER, AND AFTER EXAMINING THE REPORTS SENT BY EACH22
ASSESSOR, DENYING APPLICATIONS FOR CLASSIFICATION OF PROPERTY AS23
QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY , AND DECIDING24
PROTESTS IN ACCORDANCE WITH SUBSECTION (8)(b) OF THIS SECTION, THE25
ADMINISTRATOR SHALL PROVIDE WRITTEN NOTICE TO THE ASSESSOR OF26
EACH COUNTY IN WHICH AN APPLICATION HAS BEEN DENIED BECAUSE THE27
111
-19- APPLICANT WAS INELIGIBLE THAT INCLUDES THE IDENTITY OF EACH1
DENIED APPLICANT AND THE REASON FOR EACH DENIAL .2
(d) N
O LATER THAN JANUARY 10, 2026, AND EACH JANUARY 103
THEREAFTER, EACH ASSESSOR SHALL FORWARD TO THE ADMINISTRATOR4
A PARTIAL COPY OF THE TAX WARRANT FOR THE ASSESSOR 'S COUNTY THAT5
INCLUDES ONLY PROPERTY FOR WHICH THE ASSESSOR HAS GRANTED AN6
APPLICATION FOR CLASSIFICATION AS QUALIFIED -SENIOR PRIMARY7
RESIDENCE REAL PROPERTY. THE ADMINISTRATOR SHALL EXAMINE THE8
TAX WARRANTS TO ENSURE THAT NO ADDITIONAL CLASSIFICATIONS OF9
PROPERTY AS QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY10
HAVE BEEN ALLOWED SINCE THE ADMINISTRATOR EXAMINED THE REPORTS11
PREVIOUSLY RECEIVED FROM THE ASSESSORS AND THAT EACH ASSESSOR12
HAS REMOVED FROM THE TAX WARRANT ALL SUCH CLASSIFICATIONS THAT13
THE ADMINISTRATOR PREVIOUSLY DENIED . NO LATER THAN JANUARY 17,14
2026,
AND NO LATER THAN EACH JANUARY 17 THEREAFTER, THE15
ADMINISTRATOR SHALL NOTIFY EACH ASSESSOR AND EACH TREASURER OF16
ANY SUCH CLASSIFICATIONS TO BE REMOVED FROM THE TAX WARRANT .17
(9) Reporting and reimbursement of property tax revenue18
reductions. (a) N
O LATER THAN MARCH 1, 2026, AND NO LATER THAN19
M
ARCH 1 OF EACH YEAR THEREAFTER, EACH TREASURER SHALL FORWARD20
TO THE ADMINISTRATOR A REPORT ON THE PROPERTIES IN THE ASSESSOR 'S21
COUNTY THAT WERE CLASSIFIED AS QUALIFIED -SENIOR PRIMARY22
RESIDENCE REAL PROPERTY FOR THE PREVIOUS PROPERTY TAX YEAR . THE23
ADMINISTRATOR SHALL CROSS -CHECK THE REPORT AS SPECIFIED IN24
SUBSECTION (9)(b) OF THIS SECTION BEFORE CORRECTING IT , IF25
NECESSARY, AND FORWARDING IT TO THE STATE TREASURER TO ENABLE26
THE STATE TREASURER TO ISSUE A REIMBURSEMENT WARRANT TO EACH27
111
-20- TREASURER IN ACCORDANCE WITH SUBSECTION (9)(c) OF THIS SECTION.1
T
HE REPORT MUST INCLUDE:2
(I) A
STATEMENT OF THE TOTAL REDUCTION IN VALUATION FOR3
ASSESSMENT IN THE COUNTY RESULTING FROM THE CLASSIFICATION OF4
RESIDENTIAL REAL PROPERTY AS QUALIFIED-SENIOR PRIMARY RESIDENCE5
REAL PROPERTY AND THE TOTAL PROPERTY TAX REVENUE LOST BY LOCAL6
GOVERNMENTAL ENTITIES WITHIN THE C OUNTY AS A RESULT OF THAT7
CLASSIFICATION THAT MUST BE REIMBURSED BY THE STATE ;8
(II) W
ITH RESPECT TO EACH UNIT OF RESIDENTIAL REAL PROPERTY9
THAT IS CLASSIFIED AS QUALIFIED-SENIOR PRIMARY RESIDENCE REAL10
PROPERTY:11
(A) T
HE LEGAL DESCRIPTION OF THE PROPERTY ;12
(B) T
HE SCHEDULE OR PARCEL NUMBER FOR THE PROPERTY ;13
(C) T
HE NAME OF THE APPLICANT WHO APPLIED FOR AND14
OBTAINED THE CLASSIFICATION FOR THE PROPERTY AND EACH ADDITIONAL15
PERSON WHO OCCUPIES THE PROPERTY ;16
(D) A
STATEMENT OF WHAT THE VALUATION FOR ASSESSMENT OF17
THE PROPERTY WOULD BE IF IT HAD NOT QUALIFIED AS QUALIFIED -SENIOR18
PRIMARY RESIDENCE REAL PROPERTY AND THE VALUATION FOR19
ASSESSMENT OF THE PROPERTY AS QUALIFIED-SENIOR PRIMARY RESIDENCE20
REAL PROPERTY AND THE AMOUNT OF TAXES DUE ON THE PROPERTY ; AND21
(E) A
NY OTHER INFORMATION THAT THE ADMINISTRATOR22
REASONABLY DEEMS NECESSARY .23
(b) A
FTER RECEIVING REPORTS FROM EACH TREASURER PURSUANT24
TO SUBSECTION (9)(a) OF THIS SECTION, THE ADMINISTRATOR SHALL25
CROSS-CHECK THE REPORTS TO IDENTIFY ANY CLASSIFICATION OF26
PROPERTY AS QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY27
111
-21- ALLOWED IN A COUNTY THAT MUST BE DENIED DUE TO A FAILURE OF THE1
INDIVIDUAL ALLOWED THE CLASSIFICATION TO SATISFY ALL LEGAL2
REQUIREMENTS FOR OBTAINING THE CLASSIFICATION . THE3
ADMINISTRATOR SHALL REMOVE ANY CLASSIFICATION OF PROPERTY AS4
QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY THAT MUST BE5
DENIED FROM THE REPORT IN WHICH IT APPEARS AND SHALL FORWARD ALL6
REPORTS TO THE STATE TREASURER NO LATER THAN THE APRIL 17
IMMEDIATELY FOLLOWING THE RECEIPT OF THE REPORTS BY THE8
ADMINISTRATOR. IN ADDITION, IF THE ADMINISTRATOR IDENTIFIES ANY9
CLASSIFICATION OF PROPERTY AS QUALIFIED-SENIOR PRIMARY RESIDENCE10
REAL PROPERTY THAT WAS IMPROPERLY ALLOWED FOR A PRIOR PROPERTY11
TAX YEAR FOR WHICH THE STATE TREASURER REIMBURSED A TREASURER12
PURSUANT TO SUBSECTION (9)(c) OF THIS SECTION OR IDENTIFIES ANY13
CLASSIFICATION PROPERLY ALLOWED FOR SUCH A PRIOR PROPERTY TAX14
YEAR FOR WHICH THE STATE TREASURER DID NOT REIMBURSE A15
TREASURER, THE ADMINISTRATOR SHALL ADVISE THE STATE TREASURER16
TO ADJUST THE CURRENT YEAR REIMBURSEMENT TO THE TREASURER TO17
CORRECT THE ERROR. NO LATER THAN THAT APRIL 1, THE ADMINISTRATOR18
SHALL ALSO NOTIFY THE TREASURER AND ASSESSOR OF EACH COUNTY OF19
ALL CLASSIFICATIONS OF PROPERTY AS QUALIFIED -SENIOR PRIMARY20
RESIDENCE REAL PROPERTY REMOVED FROM THE REPORT FOR THE COUNTY21
AND ANY RESULTING AND OTHER ADJUSTMENTS TO THE AMOUNT OF22
CURRENT YEAR REIMBURSEMENT TO BE PAID BY THE STATE TREASURER TO23
THE TREASURER.24
(c) (I) (A) N
O LATER THAN APRIL 15, 2026, AND NO LATER THAN25
EACH APRIL 15 THEREAFTER, THE STATE TREASURER SHALL ISSUE A26
WARRANT TO EACH TREASURER FOR THE AMOUNT NEEDED TO FULLY27
111
-22- REIMBURSE ALL LOCAL GOVERNMENTAL ENTITIES WITHIN THE1
TREASURER'S COUNTY FOR THE TOTAL PROPERTY TAX REVENUE LOST FOR2
THE PRIOR PROPERTY TAX YEAR THAT ARE PAYABLE DURING THE YEAR IN3
WHICH THE STATE TREASURER ISSUES THE WARRANT . THE4
REIMBURSEMENT MUST BE PAID FROM THE STATE GENERAL FUND AND IS5
NOT SUBJECT TO THE STATUTORY LIMITATION ON STATE GENERAL FUND6
APPROPRIATIONS SET FORTH IN SECTION 24-75-201.1.7
(B) A
S USED IN SUBSECTION (9)(c)(I)(A) OF THIS SECTION, "TOTAL8
PROPERTY TAX REVENUE LOST " INCLUDES ONLY REVENUE LOST AS A9
RESULT OF CLASSIFICATIONS OF PROPERTY AS QUALIFIED -SENIOR10
RESIDENTIAL REAL PROPERTY PROPERLY ALLOWED IN ACCORDANCE WITH11
THE REQUIREMENTS OF THIS SECTION AND DOES NOT INCLUDE ANY12
REVENUE LOST AS A RESULT OF SUCH A CLASSIFICATION BEING13
ERRONEOUSLY ALLOWED .14
(II) E
ACH TREASURER SHALL DISTRIBUTE THE TOTAL AMOUNT15
RECEIVED FROM THE STATE TREASURER PURSUANT TO SUBSECTION16
(9)(c)(I)(A)
OF THIS SECTION TO THE LOCAL GOVERNMENTAL ENTITIES17
WITHIN THE TREASURER 'S COUNTY AS IF THE TOTAL PROPERTY TAX18
REVENUE LOST HAD BEEN REGULARLY PAID . WHEN A TREASURER19
DISTRIBUTES THAT AMOUNT, THE TREASURER SHALL PROVIDE EACH LOCAL20
GOVERNMENTAL ENTITY WITH A STATEMENT OF THE AMOUNT21
DISTRIBUTED TO THE LOCAL GOVERNMENTAL ENTITY THAT REPRESENTS22
REIMBURSEMENT RECEIVED FROM THE STATE FOR TOTAL PROPERTY TAX23
REVENUE LOST.24
(III) N
OTWITHSTANDING THE PROVISIONS OF SUBSECTIONS25
(9)(c)(I)
AND (9)(c)(II) OF THIS SECTION, THE STATE TREASURER SHALL26
REDUCE A LOCAL GOVERNMENTAL ENTITY 'S REIMBURSEMENT AS27
111
-23- NECESSARY TO PREVENT THE LOCAL GOVERNMENTAL ENTITY FROM1
EXCEEDING ITS FISCAL YEAR SPENDING LIMIT UNDER SECTION 20 (7)(b) OF2
ARTICLE X OF THE STATE CONSTITUTION FOR THE FISCAL YEAR .3
(d) I
N ACCORDANCE WITH SUBSECTION (9)(b) OF THIS SECTION,4
FOR ANY PROPERTY TAX YEAR COMMENCING ON OR AFTER JANUARY 1,5
2025,
THE STATE TREASURER SHALL NOT REIMBURSE A TREASURER FOR6
TOTAL PROPERTY TAX REVENUE LOST AS A RESULT OF A CLASSIFICATION7
OF REAL PROPERTY AS QUALIFIED -SENIOR PRIMARY RESIDENCE REAL8
PROPERTY THAT WAS ERRONEOUSLY GRANTED IN THE TREASURER 'S9
COUNTY. IF, PURSUANT TO SUBSECTION (9)(b) OF THIS SECTION, THE10
ADMINISTRATOR ADVISES THE STATE TREASURER THAT THE STATE11
TREASURER HAS PROVIDED EITHER TOO MUCH OR TOO LITTLE12
REIMBURSEMENT TO A TREASURER FOR CLASSIFICATIONS OF REAL13
PROPERTY AS QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY14
GRANTED IN THE TREASURER 'S COUNTY FOR ANY PRIOR PROPERTY TAX15
YEAR COMMENCING ON OR AFTER JANUARY 1, 2025, THE STATE16
TREASURER SHALL ADJUST THE REIMBURSEMENT FOR THE CURRENT17
PROPERTY TAX YEAR AS DIRECTED BY THE ADMINISTRATOR IN ORDER TO18
CORRECT THE ERROR.19
(e) N
OTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY ,20
THE REPORTS REQUIRED BY THIS SUBSECTION (9) AND THEIR CONTENTS21
SHALL BE KEPT CONFIDENTIAL BY AN ASSESSOR , A TREASURER, THE22
ADMINISTRATOR, THE STATE TREASURER, OR THE STATE AUDITOR; EXCEPT23
THAT SAID PERSONS MAY PROVIDE THE REPORTS TO EACH OTHER AS24
REQUIRED OR AUTHORIZED BY LAW .25
(10) Reimbursement as refund of excess state revenues.26
(a) T
HE GENERAL ASSEMBLY HEREBY FINDS AND DECLARES THAT SECTION27
111
-24- 20 OF ARTICLE X OF THE STATE CONSTITUTION AUTHORIZES THE STATE TO1
USE ANY REASONABLE METHOD TO MAKE REQUIRED REFUNDS OF EXCESS2
STATE REVENUES, AND THE PAYMENT BY THE STATE OF REIMBURSEMENT3
TO LOCAL GOVERNMENTAL ENTITIES FOR TOTAL PROPERTY TAX REVENUE4
LOST AS A RESULT OF THE CLASSIFICATION OF REAL PROPERTY AS5
QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY , WHICH6
CLASSIFICATION DIRECTLY REDUCES THE TAX LIABILITY OF TAXPAYING7
C
OLORADO RESIDENTS THROUGHOUT THE STATE , IS A REASONABLE8
METHOD OF MAKING SUCH REFUNDS .9
(b) F
OR ANY STATE FISCAL YEAR COMMENCING ON OR AFTER JULY10
1,
2024, FOR WHICH STATE REVENUES , AS DEFINED IN SECTION11
24-77-103.6 (6)(c),
EXCEED THE EXCESS STATE REVENUES CAP , AS12
DEFINED IN SECTION 24-77-103.6 (6)(b)(I)(C) OR (6)(b)(I)(D), AND ARE13
REQUIRED TO BE REFUNDED IN ACCORDANCE WITH SECTION 20 OF ARTICLE14
X
OF THE STATE CONSTITUTION, THE LESSER OF ALL REIMBURSEMENT PAID15
BY THE STATE TREASURER TO EACH TREASURER AS REQUIRED BY16
SUBSECTION (9)(c) OF THIS SECTION FOR THE PROPERTY TAX YEAR THAT17
COMMENCED DURING THE STATE FISCAL YEAR OR AN AMOUNT OF SUCH18
REIMBURSEMENT EQUAL TO THE AMOUNT OF SUCH EXCESS STATE19
REVENUES ABOVE THE AMOUNT OF SUCH EXCESS STATE REVENUES THAT20
ARE REQUIRED TO BE REFUNDED PURSUANT TO SECTION 39-3-209 IS A21
REFUND OF SUCH EXCESS STATE REVENUES .22
SECTION 5. In Colorado Revised Statutes, 39-21-113, amend23
(24) as follows:24
39-21-113. Reports and returns - rule - repeal.25
(24) Notwithstanding any other provision of this section, the executive26
director, after receiving from the property tax administrator a list of27
111
-25- individuals who are EITHER claiming the property tax exemptions for1
qualifying seniors and qualifying veterans with a disability allowed under2
part 2 of article 3 of this title 39
OR APPLYING FOR THE QUALIFIED-SENIOR3
PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATION FOR THE PROPERTY4
DESCRIBED IN SECTION 39-1-104.6, shall provide to the property tax5
administrator information pertaining to the listed individuals, including6
their names, social security numbers, marital and income tax filing status,7
and residency status, needed by the administrator to verify that the8
exemption
OR CLASSIFICATION is allowed only to applicants who satisfy9
legal requirements for claiming it. The administrator and the10
administrator's agents, clerks, and employees shall keep all information11
received from the executive director confidential, and any individual who12
fails to do so is guilty of a misdemeanor and subject to punishment as13
specified in subsection (6) of this section.14
SECTION 6. Act subject to petition - effective date. This act15
takes effect at 12:01 a.m. on the day following the expiration of the16
ninety-day period after final adjournment of the general assembly; except17
that, if a referendum petition is filed pursuant to section 1 (3) of article V18
of the state constitution against this act or an item, section, or part of this19
act within such period, then the act, item, section, or part will not take20
effect unless approved by the people at the general election to be held in21
November 2024 and, in such case, will take effect on the date of the22
official declaration of the vote thereon by the governor.23
111
-26-