SENATE BILL 24-111
BY SENATOR(S) Kolker and Hansen, Bridges, Buckner, Coleman, Cutter,
Exum, Fields, Ginal, Gonzales, Hinrichsen, Jaquez Lewis, Marchman,
Michaelson Jenet, Mullica, Priola, Roberts, Sullivan, Winter F., Zenzinger,
Fenberg;
also REPRESENTATIVE(S) Lieder and Young, Bacon, Bird, Boesenecker,
Brown, Clifford, Daugherty, deGruy Kennedy, Duran, English, Epps,
Frizell, Froelich, Hamrick, Hernandez, Jodeh, Joseph, Kipp, Lindsay,
Lindstedt, Lukens, Lynch, Marshall, Marvin, Mauro, McLachlan, Parenti,
Ricks, Sirota, Snyder, Story, Titone, Valdez, Velasco, Vigil, Weinberg,
Weissman, Willford, Woodrow, McCluskie.
C
ONCERNING A REDUCTION IN THE VALUATION FOR ASSESSMENT OF
QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY .
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. In Colorado Revised Statutes, 25-2-103, add (4.7) as
follows:
25-2-103. Centralized registration system for all vital statistics
- office of the state registrar of vital statistics created - appointment of
registrar - rules. (4.7) N
OTWITHSTANDING ANY OTHER PROVISION OF LAW
NOTE: This bill has been prepared for the signatures of the appropriate legislative
officers and the Governor. To determine whether the Governor has signed the bill
or taken other action on it, please consult the legislative status sheet, the legislative
history, or the Session Laws.
________
Capital letters or bold & italic numbers indicate new material added to existing law; dashes
through words or numbers indicate deletions from existing law and such material is not part of
the act. THAT LIMITS THE SHARING OF VITAL STATISTICS, AFTER RECEIVING THE LIST
OF NAMES AND SOCIAL SECURITY NUMBERS OF INDIVIDUALS WHO HAD
PROPERTY CLASSIFIED AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL
PROPERTY THAT IS PROVIDED BY THE PROPERTY TAX ADMINISTRATOR
PURSUANT TO SECTION
39-1-104.6 (5)(c), THE STATE REGISTRAR SHALL
IDENTIFY ALL INDIVIDUALS ON THE LIST WHO HAVE DIED AND TRANSMIT A
LIST OF THE NAMES AND SOCIAL SECURITY NUMBERS OF SUCH INDIVIDUALS
TO THE ADMINISTRATOR
.
SECTION 2. In Session Laws of Colorado 2023, First
Extraordinary Session, 39-1-104.2, Colorado Revised Statutes, amend
(3)(q) introductory portion and (3)(r) introductory portion, as amended by
section 1 of chapter 1, as follows:
39-1-104.2. Residential real property - valuation for assessment
- legislative declaration - definitions. (3) (q) E
XCEPT AS OTHERWISE
PROVIDED IN SUBSECTION
(3)(s) OF THIS SECTION, the valuation for
assessment for multi-family residential real property is 7.15 percent of the
actual value of the property for property tax years commencing on or after
January 1, 2019; except that the valuation for assessment of this property is
temporarily reduced as follows:
(r) E
XCEPT AS OTHERWISE PROVIDED IN SUBSECTION (3)(s) OF THIS
SECTION
, the valuation for assessment for all residential real property other
than multi-family residential real property is 7.15 percent of the actual value
of the property; except that the valuation for assessment of this property is
temporarily reduced as follows:
SECTION 3. In Colorado Revised Statutes, 39-1-104.2, add
(1)(a.5) and (3)(s) as follows:
39-1-104.2. Residential real property - valuation for assessment
- legislative declaration - definitions. (1) As used in this section, unless
the context otherwise requires:
(a.5) "Q
UALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY "
MEANS PROPERTY THAT IS CLASSIFIED AS SUCH UNDER SECTION 39-1-104.6.
(3) (s) F
OR PROPERTY TAX YEARS COMMENCING ON OR AFTER
JANUARY 1, 2025, BUT BEFORE JANUARY 1, 2027, THE VALUATION FOR
PAGE 2-SENATE BILL 24-111 ASSESSMENT FOR QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY ,
INCLUDING MULTI-FAMILY QUALIFIED-SENIOR PRIMARY RESIDENCE REAL
PROPERTY
, IS 7.15 PERCENT OF THE AMOUNT EQUAL TO THE ACTUAL VALUE
OF THE PROPERTY MINUS THE LESSER OF FIFTY PERCENT OF THE FIRST TWO
HUNDRED THOUSAND DOLLARS OF THAT ACTUAL VALUE OR THE AMOUNT
THAT CAUSES THE VALUATION FOR ASSESSMENT OF THE PROPERTY TO BE
ONE THOUSAND DOLLARS
.
SECTION 4. In Colorado Revised Statutes, add 39-1-104.6 as
follows:
39-1-104.6. Qualified-senior primary residence real property -
valuation for assessment - reimbursement to local governments for
reduced valuation - temporary mechanism for refunding excess state
revenues - legislative declaration - definitions. (1) Definitions. A
S USED
IN THIS SECTION
, UNLESS THE CONTEXT OTHERWISE REQUIRES :
(a) "L
OCAL GOVERNMENTAL ENTITY " MEANS A GOVERNMENTAL
ENTITY AUTHORIZED BY LAW TO IMPOSE AD VALOREM TAXES ON TAXABLE
PROPERTY LOCATED WITHIN ITS TERRITORIAL LIMITS
.
(b) (I) "O
WNER-OCCUPIER" MEANS AN INDIVIDUAL WHO:
(A) I
S AN OWNER OF RECORD OF RESIDENTIAL REAL PROPERTY THAT
THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL
'S PRIMARY RESIDENCE;
(B) I
S NOT AN OWNER OF RECORD OF THE RESIDENTIAL REAL
PROPERTY THAT THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL
'S PRIMARY
RESIDENCE
, BUT EITHER IS A SPOUSE OR CIVIL UNION PARTNER OF AN OWNER
OF RECORD OF THE RESIDENTIAL REAL PROPERTY AND WHO ALSO OCCUPIES
THE RESIDENTIAL REAL PROPERTY AS THE OWNER OF RECORD
'S PRIMARY
RESIDENCE
, OR IS THE SURVIVING SPOUSE OR PARTNER OF AN INDIVIDUAL
WHO WAS AN OWNER OF RECORD OF THE RESIDENTIAL REAL PROPERTY AND
WHO OCCUPIED THE RESIDENTIAL REAL PROPERTY WITH THE SURVIVING
SPOUSE OR PARTNER AS THEIR PRIMARY RESIDENCE UNTIL THE OWNER OF
RECORD
'S DEATH;
(C) I
S NOT AN OWNER OF RECORD OF THE RESIDENTIAL REAL
PROPERTY THAT THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL
'S PRIMARY
RESIDENCE
, ONLY BECAUSE THE PROPERTY HAS BEEN PURCHASED BY OR
PAGE 3-SENATE BILL 24-111 TRANSFERRED TO A TRUST , A CORPORATE PARTNERSHIP , OR ANY OTHER
LEGAL ENTITY SOLELY FOR ESTATE PLANNING PURPOSES AND IS THE MAKER
OF THE TRUST OR A PRINCIPAL OF THE CORPORATE PARTNERSHIP OR OTHER
LEGAL ENTITY
;
(D) O
CCUPIES RESIDENTIAL REAL PROPERTY AS THE INDIVIDUAL 'S
PRIMARY RESIDENCE AND IS THE SPOUSE OR CIVIL UNION PARTNER OF A
PERSON WHO ALSO OCCUPIES THE RESIDENTIAL REAL PROPERTY
, WHO IS NOT
THE OWNER OF RECORD OF THE PROPERTY ONLY BECAUSE THE PROPERTY
HAS BEEN PURCHASED BY OR TRANSFERRED TO A TRUST
, A CORPORATE
PARTNERSHIP
, OR ANY OTHER LEGAL ENTITY SOLELY FOR ESTATE PLANNING
PURPOSES
, AND WHO IS THE MAKER OF THE TRUST OR A PRINCIPAL OF THE
CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY
; OR
(E) OCCUPIES RESIDENTIAL REAL PROPERTY AS THE INDIVIDUAL 'S
PRIMARY RESIDENCE AND IS THE SURVIVING SPOUSE OR PARTNER OF A
PERSON WHO OCCUPIED THE RESIDENTIAL REAL PROPERTY WITH THE
SURVIVING SPOUSE OR PARTNER UNTIL THE PERSON
'S DEATH, WHO WAS NOT
THE OWNER OF RECORD OF THE PROPERTY AT THE TIME OF THE PERSON
'S
DEATH ONLY BECAUSE THE PROPERTY HAD BEEN PURCHASED BY OR
TRANSFERRED TO A TRUST
, A CORPORATE PARTNERSHIP , OR ANY OTHER
LEGAL ENTITY SOLELY FOR ESTATE PLANNING PURPOSES PRIOR TO THE
PERSON
'S DEATH, AND WHO WAS THE MAKER OF THE TRUST OR A PRINCIPAL
OF THE CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY PRIOR TO THE
PERSON
'S DEATH.
(II) "O
WNER-OCCUPIER" ALSO INCLUDES ANY INDIVIDUAL WHO, BUT
FOR THE CONFINEMENT OF THE INDIVIDUAL TO A HOSPITAL
, NURSING HOME,
OR ASSISTED LIVING FACILITY, WOULD OCCUPY THE RESIDENTIAL REAL
PROPERTY AS THE INDIVIDUAL
'S PRIMARY RESIDENCE AND WOULD M EET ONE
OR MORE OF THE OWNERSHIP CRITERIA SPECIFIED IN SUBSECTION
(1)(b)(I) OF
THIS SECTION
, IF THE RESIDENTIAL REAL PROPERTY:
(A) I
S TEMPORARILY UNOCCUPIED ; OR
(B) IS OCCUPIED BY THE SPOUSE , CIVIL UNION PARTNER, OR A
FINANCIAL DEPENDENT OF THE INDIVIDUAL
.
(c) "O
WNER OF RECORD" MEANS AN INDIVIDUAL WHOSE NAME
APPEARS ON A VALID RECORDED DEED TO RESIDENTIAL REAL PROPERTY AS
PAGE 4-SENATE BILL 24-111 AN OWNER OF THE PROPERTY.
(d) "S
ENIOR HOMESTEAD EXEMPTION " MEANS THE PROPERTY TAX
EXEMPTION FOR QUALIFYING SENIORS ALLOWED BY SECTION
39-3-203 (1).
(e) "S
URVIVING SPOUSE OR PARTNER" MEANS AN INDIVIDUAL WHO
WAS LEGALLY MARRIED TO ANOTHER INDIVIDUAL
, OR WAS A PARTNER IN A
CIVIL UNION WITH ANOTHER INDIVIDUAL
, AT THE TIME OF THE OTHER
INDIVIDUAL
'S DEATH AND WHO HAS NOT REMARRIED OR ENTERED INTO
ANOTHER CIVIL UNION
.
(f) "T
OTAL PROPERTY TAX REVENUE LOST " MEANS THE AMOUNT OF
PROPERTY TAX REVENUE LOST FOR A PROPERTY TAX YEAR BY A LOCAL
GOVERNMENTAL ENTITY DUE SOLELY TO THE REDUCED VALUATION FOR
ASSESSMENT OF QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY ,
INCLUDING MULTI-FAMILY QUALIFIED-SENIOR PRIMARY RESIDENCE REAL
PROPERTY UNDER SECTION
39-2-104.2 (3)(s), AS COMPARED TO THE
VALUATION FOR ASSESSMENT OF RESIDENTIAL REAL PROPERTY
, INCLUDING
MULTI
-FAMILY RESIDENTIAL REAL PROPERTY UNDER THIS SECTION , AS
CALCULATED BY EACH ASSESSOR
, SUBJECT TO CORRECTION BY THE
ADMINISTRATOR
, PURSUANT TO SUBSECTION (9) OF THIS SECTION.
(2) Classification. (a) F
OR PROPERTY TAX YEARS COMMENCING ON
OR AFTER
JANUARY 1, 2025, RESIDENTIAL REAL PROPERTY THAT AS OF THE
ASSESSMENT DATE IS USED AS THE PRIMARY RESIDENCE OF AN
OWNER
-OCCUPIER IS CLASSIFIED AS QUALIFIED-SENIOR PRIMARY RESIDENCE
REAL PROPERTY
, WHICH IS A SUBCLASS OF RESIDENTIAL REAL PROPERTY , IF:
(I) T
HE OWNER-OCCUPIER COMPLETES AND FILES AN APPLICATION IN
THE MANNER REQUIRED BY SUBSECTION
(3) OF THIS SECTION;
(II) T
HE OWNER-OCCUPIER PREVIOUSLY QUALIFIED FOR AND
RECEIVED THE SENIOR HOMESTEAD EXEMPTION FOR A DIFFERENT PROPERTY
FOR A PROPERTY TAX YEAR COMMENCING ON OR AFTER
JANUARY 1, 2020,
AND DOES NOT QUALIFY FOR THE SENIOR HOMESTEAD EXEMPTION FOR THE
CURRENT PROPERTY TAX YEAR
; AND
(III) THE CIRCUMSTANCES THAT QUALIFY THE PROPERTY FOR THE
CLASSIFICATION HAVE NOT CHANGED SINCE THE FILING OF THE APPLICATION
.
PAGE 5-SENATE BILL 24-111 (b) UNDER NO CIRCUMSTANCES IS THE CLASSIFICATION AS
QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY ALLOWED FOR
PROPERTY TAXES ASSESSED DURING ANY PROPERTY TAX YEAR PRIOR TO THE
YEAR IN WHICH AN OWNER
-OCCUPIER FIRST FILES AN APPLICATION IN THE
MANNER REQUIRED BY SUBSECTION
(3) OF THIS SECTION. IF OWNERSHIP OF
RESIDENTIAL REAL PROPERTY THAT QUALIFIED AS QUALIFIED
-SENIOR
PRIMARY RESIDENCE REAL PROPERTY AS OF THE ASSESSMENT DATE CHANGES
AFTER THE ASSESSMENT DATE
, THE CLASSIFICATION IS ALLOWED ONLY IF AN
OWNER
-OCCUPIER WHOSE STATUS AS AN OWNER -OCCUPIER QUALIFIES THE
PROPERTY FOR THE CLASSIFICATION HAS FILED AN APPLICATION BY THE
DEADLINE SPECIFIED IN SUBSECTION
(3)(a) OF THIS SECTION.
(c) I
F AN INDIVIDUAL OWNS AND OCCUPIES A DWELLING UNIT IN A
COMMON INTEREST COMMUNITY
, AS DEFINED IN SECTION 38-33.3-103 (8), AS
THE INDIVIDUAL
'S PRIMARY RESIDENCE, ONLY THE DWELLING UNIT THAT THE
INDIVIDUAL OCCUPIES AS THE INDIVIDUAL
'S PRIMARY RESIDENCE MAY
QUALIFY AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY .
(d) F
OR PURPOSES OF THIS SUBSECTION (2), TWO INDIVIDUALS WHO
ARE LEGALLY MARRIED OR ARE CIVIL UNION PARTNERS BUT WHO OWN MORE
THAN ONE PARCEL OF RESIDENTIAL REAL PROPERTY ARE DEEMED TO OCCUPY
THE SAME PRIMARY RESIDENCE
, AND ONLY THAT PROPERTY MAY BE
CLASSIFIED AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY . IF
AN INDIVIDUAL IS AN OWNER
-OCCUPIER OF A RESIDENTIAL REAL PROPERTY
AND AN OWNER OF RECORD ON ANOTHER PROPERTY ALONG WITH A MEMBER
OF THE INDIVIDUAL
'S FAMILY OTHER THAN THE INDIVIDUAL'S SPOUSE, THEN
THE OTHER FAMILY MEMBER MAY BE AN OWNER
-OCCUPIER OF THE OTHER
PROPERTY
.
(e) A
UNIT OF REAL PROPERTY THAT MIGHT OTHERWISE BE
CLASSIFIED AS MULTI
-FAMILY RESIDENTIAL REAL PROPERTY AND THAT
QUALIFIES AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY
UNDER THIS SECTION IS CLASSIFIED AS MULTI
-FAMILY QUALIFIED-SENIOR
PRIMARY RESIDENCE REAL PROPERTY
.
(3) Applications. (a) F
OR A PROPERTY TO BE CLASSIFIED AS
QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY , AN INDIVIDUAL
MUST FILE WITH THE ASSESSOR A COMPLETED APPLICATION NO LATER THAN
JULY 15 OF THE FIRST PROPERTY TAX YEAR FOR WHICH THE CLASSIFICATION
IS SOUGHT
. AN APPLICATION RETURNED BY MAIL IS DEEMED FILED ON THE
PAGE 6-SENATE BILL 24-111 DATE IT IS POSTMARKED.
(b) (I) A
N APPLICANT MUST COMPLETE AN APPLICATION FOR
PROPERTY TO BE CLASSIFIED AS QUALIFIED
-SENIOR PRIMARY RESIDENCE
REAL PROPERTY ON A FORM PRESCRIBED BY THE ADMINISTRATOR THAT
INCLUDES THE FOLLOWING INFORMATION
:
(A) T
HE APPLICANT'S NAME, MAILING ADDRESS, AND SOCIAL
SECURITY NUMBER
;
(B) T
HE ADDRESS AND SCHEDULE OR PARCEL NUMBER OF THE
PROPERTY
;
(C) T
HE NAME AND SOCIAL SECURITY NUMBER OF THE APPLICANT 'S
SPOUSE OR CIVIL UNION PARTNER WHO OCCUPIES THE PROPERTY AS THE
SPOUSE OR CIVIL UNION PARTNER
'S PRIMARY RESIDENCE;
(D) I
F A TRUST IS THE OWNER OF RECORD OF THE PROPERTY , THE
NAMES OF THE MAKER OF THE TRUST
, THE TRUSTEE, AND THE BENEFICIARIES
OF THE TRUST
;
(E) I
F A CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY IS THE
OWNER OF RECORD OF THE PROPERTY
, THE NAMES OF THE PRINCIPALS OR THE
CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY
;
(F) A
STATEMENT THAT THE APPLICANT PREVIOUSLY QUALIFIED FOR
THE SENIOR HOMESTEAD EXEMPTION FOR A PROPERTY TAX YEAR
COMMENCING ON OR AFTER
JANUARY 1, 2020, FOR A DIFFERENT PROPERTY
THAN THE PROPERTY THAT THE APPLICANT CURRENTLY OCCUPIES AS THE
APPLICANT
'S PRIMARY RESIDENCE;
(G) A
N AFFIRMATION, IN A FORM PRESCRIBED BY THE
ADMINISTRATOR
, THAT THE APPLICANT BELIEVES , UNDER PENALTY OF
PERJURY IN THE SECOND DEGREE AS DEFINED IN SECTION
18-8-503, THAT ALL
INFORMATION PROVIDED BY THE APPLICANT IS CORRECT
; AND
(H) ANY OTHER INFORMATION THAT THE ADMINISTRATOR
REASONABLY DEEMS NECESSARY
.
(II) T
HE ADMINISTRATOR SHALL ALSO INCLUDE IN THE APPLICATION
PAGE 7-SENATE BILL 24-111 A STATEMENT THAT AN APPLICANT OR , IF APPLICABLE, THE TRUSTEE HAS A
LEGAL OBLIGATION TO INFORM THE ASSESSOR WITHIN SIXTY DAYS OF ANY
CHANGE IN THE OWNERSHIP OR OCCUPANCY OF THE RESIDENTIAL REAL
PROPERTY FOR WHICH CLASSIFICATION AS QUALIFIED
-SENIOR PRIMARY
RESIDENCE REAL PROPERTY HAS BEEN APPLIED FOR OR ALLOWED THAT
WOULD PREVENT THE CLASSIFICATION FROM BEING ALLOWED FOR THE
PROPERTY
.
(c) F
OR PURPOSES OF THE APPLICATION AND RELATED PROVISIONS IN
THIS SECTION
, REAL PROPERTY THAT IS MULTI-FAMILY QUALIFIED-SENIOR
PRIMARY RESIDENCE REAL PROPERTY IS TREATED AS QUALIFIED
-SENIOR
PRIMARY RESIDENCE REAL PROPERTY
.
(4) Penalties. (a) I
N ADDITION TO ANY PENALTIES PRESCRIBED BY
LAW FOR PERJURY IN THE SECOND DEGREE
, AN APPLICANT WHO KNOWINGLY
PROVIDES FALSE INFORMATION ON AN APPLICATION OR ATTEMPTS TO CLAIM
MORE THAN ONE PROPERTY AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL
PROPERTY FOR THE SAME PROPERTY TAX YEAR SHALL
:
(I) N
OT BE ABLE TO CLAIM THE PROPERTY AS QUALIFIED -SENIOR
PRIMARY RESIDENCE REAL PROPERTY FOR THE PROPERTY TAX YEAR
;
(II) P
AY, TO THE TREASURER OF A COUNTY IN WHICH PROPERTY WAS
IMPROPERLY CLASSIFIED AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL
PROPERTY DUE TO THE PROVISION BY THE APPLICANT OF FALSE INFORMATION
OR THE FILING OF MORE THAN ONE APPLICATION
, AN AMOUNT EQUAL TO THE
AMOUNT OF PROPERTY TAXES NOT PAID AS A RESULT OF THE IMPROPER
CLASSIFICATION AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY ;
AND
(III) UPON CONVICTION OF PERJURY, BE REQUIRED TO PAY TO THE
TREASURER OF ANY COUNTY IN WHICH AN INVALID APPLICATION WAS FILED
AN ADDITIONAL AMOUNT EQUAL TO TWICE THE AMOUNT OF THE PROPERTY
TAXES IDENTIFIED IN SUBSECTION
(4)(a)(II) OF THIS SECTION PLUS INTEREST,
CALCULATED AT THE ANNUAL RATE CALCULATED PURS UANT TO SECTION
39-21-110.5 FROM THE DATE THE INVALID APPLICATION WAS FILED UNTIL
THE DATE THE APPLICANT MAKES THE PAYMENT REQUIRED BY THIS
SUBSECTION
(4)(a)(III).
(b) I
F AN APPLICANT OR A TRUSTEE FAILS TO INFORM THE ASSESSOR
PAGE 8-SENATE BILL 24-111 WITHIN SIXTY DAYS OF ANY CHANGE IN THE OWNERSHIP OR OCCUPANCY OF
RESIDENTIAL REAL PROPERTY FOR WHICH CLASSIFICATION AS A
QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY HAS BEEN APPLIED
FOR OR ALLOWED THAT WOULD PREVENT THE CLASSIFICATION FROM BEING
ALLOWED FOR THE PROPERTY AS REQUIRED BY SUBSECTION
(3)(b) OF THIS
SECTION
:
(I) T
HE CLASSIFICATION IS NOT ALLOWED WITH RESPECT TO THE
RESIDENTIAL REAL PROPERTY FOR THE SUBSEQUENT PROPERTY TAX YEAR
;
AND
(II) THE APPLICANT OR TRUSTEE SHALL PAY, TO THE TREASURER OF
ANY COUNTY IN WHICH THE CLASSIFICATION WAS IMPROPERLY ALLOWED
DUE TO THE APPLICANT
'S OR TRUSTEE'S FAILURE TO IMMEDIATELY INFORM
THE ASSESSOR OF ANY CHANGE IN THE OWNERSHIP OR OCCUPANCY OF
RESIDENTIAL REAL PROPERTY
, AN AMOUNT EQUAL TO THE AMOUNT OF
PROPERTY TAXES NOT PAID AS A RESULT OF THE IMPROPER CLASSIFICATION
AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY PLUS INTEREST ,
CALCULATED AT THE ANNUAL RATE SPECIFIED IN SECTION 39-21-110.5 FROM
THE DATE ON WHICH THE CHANGE IN THE OWNERSHIP OR OCCUPANCY
OCCURRED UNTIL THE DATE THE APPLICANT MAKES THE PAYMENT REQUIRED
BY THIS SUBSECTION
(4)(b)(II).
(c) A
NY AMOUNT REQUIRED TO BE PAID TO A TREASURER PURSUANT
TO SUBSECTION
(4)(a) OR (4)(b) OF THIS SECTION IS DEEMED PART OF THE
LIEN OF GENERAL TAXES IMPOSED ON THE PERSON REQUIRED TO PAY THE
AMOUNT AND HAS THE PRIORITY SPECIFIED IN SECTION
39-1-107 (2).
(5) Confidentiality. (a) C
OMPLETED APPLICATIONS FOR
CLASSIFICATION AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY
ARE CONFIDENTIAL
; EXCEPT THAT:
(I) (A) A
N ASSESSOR OR THE ADMINISTRATOR MAY RELEASE
STATISTICAL COMPILATIONS OR INFORMATIONAL SUMMARIES OF ANY
INFORMATION CONTAINED IN THE APPLICATIONS AND SHALL PROVIDE A COPY
OF AN APPLICATION TO THE APPLICANT WHO RETURNED THE APPLICATION
AND THE TREASURER OF THE SAME COUNTY AS THE ASSESSOR
; AND
(B) AN ASSESSOR OR THE ADMINISTRATOR MAY INTRODUCE A COPY
OF AN APPLICATION AS EVIDENCE IN ANY ADMINISTRATIVE HEARING OR
PAGE 9-SENATE BILL 24-111 LEGAL PROCEEDING IN WHICH THE ACCURACY OR VERACITY OF THE
APPLICATION IS AT ISSUE SO LONG AS NEITHER THE APPLICANT
'S SOCIAL
SECURITY NUMBER NOR ANY OTHER SOCIAL SECURITY NUMBER SET FORTH
IN THE APPLICATION ARE DIVULGED
;
(II) A
TREASURER SHALL KEEP CONFIDENTIAL EACH INDIVIDUAL
APPLICATION RECEIVED FROM AN ASSESSOR BUT MAY RELEASE STATISTICAL
COMPILATIONS OR INFORMATIONAL SUMMARIES OF ANY INFORMATION
CONTAINED IN APPLICATIONS AND MAY INTRODUCE A COPY OF AN
APPLICATION AS EVIDENCE IN ANY ADMINISTRATIVE HEARING OR LEGAL
PROCEEDING IN WHICH THE ACCURACY OR VERACITY OF THE APPLICATION IS
AT ISSUE SO LONG AS NEITHER THE APPLICANT
'S SOCIAL SECURITY NUMBER
NOR ANY OTHER SOCIAL SECURITY NUMBER SET FORTH IN THE APPLICATION
IS DIVULGED
; AND
(III) THE ADMINISTRATOR MAY SHARE INFORMATION CONTAINED IN
AN APPLICATION FOR CLASSIFICATION OF REAL PROPERTY AS
QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY , INCLUDING ANY
SOCIAL SECURITY NUMBER SET FORTH IN THE APPLICATION
, WITH THE
DEPARTMENT OF REVENUE TO THE EXTENT NECESSARY TO ENABLE THE
ADMINISTRATOR TO VERIFY THAT THE APPLICANT SATISFIES LEGAL
REQUIREMENTS FOR THE CLASSIFICATION
.
(b) N
OTWITHSTANDING THE PROVISIONS OF SUBSECTION (5)(a) OF
THIS SECTION
, THE ADMINISTRATOR, AN ASSESSOR, OR A TREASURER SHALL
NOT GIVE ANY OTHER PERSON ANY LISTING OF APPLICANTS OR ANY OTHER
INFORMATION THAT WOULD ENABLE A PERSON TO EASILY ASSEMBLE A
MAILING LIST OF APPLICANTS FOR THE QUALIFIED
-SENIOR PRIMARY
RESIDENCE REAL PROPERTY CLASSIFICATION
.
(c) I
N ACCORDANCE WITH SECTION 25-2-103 (4.7), THE
ADMINISTRATOR SHALL ANNUALLY PROVIDE TO THE STATE REGISTRAR OF
VITAL STATISTICS OF THE DEPARTMENT OF PUBLIC HEALTH AND
ENVIRONMENT A LIST
, BY NAME AND SOCIAL SECURITY NUMBER , OF EVERY
INDIVIDUAL WHO HAD PROPERTY CLASSIFIED AS QUALIFIED
-SENIOR PRIMARY
RESIDENCE REAL PROPERTY FOR THE IMMEDIATELY PRECEDING YEAR SO
THAT THE REGISTRAR CAN PROVIDE TO THE ADMINISTRATOR A LIST OF ALL
THE INDIVIDUALS ON THE LIST WHO HAVE DIED
. NO LATER THAN APRIL 1,
2026,
AND APRIL 1 OF EACH YEAR THEREAFTER, THE ADMINISTRATOR SHALL
FORWARD TO THE ASSESSOR OF EACH COUNTY THE NAME AND SOCIAL
PAGE 10-SENATE BILL 24-111 SECURITY NUMBER OF EACH DECEASED INDIVIDUAL WHO HAD RESIDENTIAL
REAL PROPERTY LOCATED WITHIN THE COUNTY THAT WAS SO CLASSIFIED FOR
THE IMMEDIATELY PRECEDING YEAR SO THAT THE ASSESSOR CAN CHANGE
THE CLASSIFICATION OF THE PROPERTY
, IF NECESSARY.
(6) Notice. (a) A
S SOON AS PRACTICABLE AFTER JANUARY 1, 2025,
AND AFTER JANUARY 1 OF EACH YEAR THEREAFTER , EACH COUNTY
TREASURER SHALL
, AT THE TREASURER 'S DISCRETION, MAIL OR
ELECTRONICALLY SEND TO EACH PERSON WHOSE NAME APPEARS ON THE TAX
LIST AND WARRANT AS AN OWNER OF RESIDENTIAL REAL PROPERTY NOTICE
OF THE QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY
CLASSIFICATION
. THE TREASURER SHALL MAIL OR ELECTRONICALLY SEND
THE NOTICE EACH YEAR ON OR BEFORE THE DATE ON WHICH THE TREASURER
MAILS THE PROPERTY TAX STATEMENT FOR THE PREVIOUS PROPERTY TAX
YEAR PURSUANT TO SECTION
39-10-103. THE ADMINISTRATOR SHALL
PRESCRIBE THE FORM OF THE NOTICE
, WHICH MUST INCLUDE A STATEMENT
OF THE ELIGIBILITY CRITERIA FOR THE PRIMARY RESIDENCE REAL PROPERTY
AND QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY
CLASSIFICATIONS AND INSTRUCTIONS FOR OBTAINING A RELATED
APPLICATION
.
(b) T
O REDUCE MAILING COSTS, AN ASSESSOR MAY COORDINATE
WITH THE TREASURER OF THE SAME COUNTY TO INCLUDE NOTICE WITH THE
TAX STATEMENT FOR THE PREVIOUS PROPERTY TAX YEAR MAILED PURSUANT
TO SECTION
39-10-103, OR MAY INCLUDE NOTICE WITH THE NOTICE OF
VALUATION MAILED PURSUANT TO SECTION
39-5-121 (1)(a).
(7) Notice of classification - appeal. (a) (I) E
XCEPT AS OTHERWISE
PROVIDED IN SUBSECTION
(7)(b) OF THIS SECTION, AN ASSESSOR SHALL ONLY
CLASSIFY PROPERTY AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL
PROPERTY IF AN APPLICANT HAS TIMELY RETURNED AN APPLICATION IN
ACCORDANCE WITH SUBSECTION
(3) OF THIS SECTION THAT ESTABLISHES
THAT THE CLASSIFICATION IS APPROPRIATE
.
(II) I
F THE INFORMATION PROVIDED ON OR WITH AN APPLICATION
INDICATES THAT THE APPLICANT IS NOT ENTITLED TO THE CLASSIFICATION
,
OR IS INSUFFICIENT TO ALLOW THE ASSESSOR TO DETERMINE WHETHER THE
PROPERTY MEETS THE CLASSIFICATION
, THE ASSESSOR SHALL DENY THE
APPLICATION AND MAIL TO THE APPLICANT A STATEMENT PROVIDING THE
REASONS FOR THE DENIAL AND INFORMING THE APPLICANT OF THE
PAGE 11-SENATE BILL 24-111 APPLICANT'S RIGHT TO CONTEST THE DENIAL PURSUANT TO SUBSECTION
(7)(b) OF THIS SECTION. THE ASSESSOR SHALL MAIL THE STATEMENT NO
LATER THAN
AUGUST 1 OF THE PROPERTY TAX YEAR FOR WHICH THE
APPLICATION WAS FILED
.
(b) (I) A
N APPLICANT WHOSE APPLICATION HAS BEEN DENIED MAY
CONTEST THE DENIAL BY REQUESTING A HEARING BEFORE THE COUNTY
COMMISSIONERS SITTING AS THE COUNTY BOARD OF EQUALIZATION NO
LATER THAN
AUGUST 15 OF THE PROPERTY TAX YEAR FOR WHICH THE
APPLICATION WAS FILED
. THE HEARING SHALL BE HELD ON OR AFTER
AUGUST 1 AND NO LATER THAN SEPTEMBER 1 OF THE PROPERTY TAX YEAR
FOR WHICH THE APPLICATION WAS FILED
, AND THE DECISION OF THE COUNTY
BOARD OF EQUALIZATION IS NOT SUBJECT TO FURTHER ADMINISTRATIVE
APPEAL BY EITHER THE APPLICANT OR THE ASSESSOR
.
(II) A
N INDIVIDUAL WHO HAS NOT TIMELY FILED AN APPLICATION
WITH THE ASSESSOR BY
MARCH 15 MAY FILE A LATE APPLICATION NO LATER
THAN THE
JULY 15 THAT IMMEDIATELY FOLLOWS THAT DEADLINE . THE
ASSESSOR SHALL ACCEPT ANY SUCH APPLICATION BUT MAY NOT ACCEPT ANY
LATE APPLICATION FILED AFTER
JULY 15. A DECISION OF AN ASSESSOR TO
DISALLOW THE FILING OF A LATE APPLICATION AFTER
JULY 15 OR TO GRANT
OR DENY THE CLASSIFICATION TO AN APPLICANT WHO HAS FILED A LATE
APPLICATION AFTER
MARCH 15 BUT NO LATER THAN JULY 15 IS FINAL, AND
AN APPLICANT WHO IS DENIED LATE FILING OR CLASSIFICATION OF PROPERTY
AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY MAY NOT
CONTEST THE DENIAL
.
(III) T
HE COUNTY BOARD OF EQUALIZATION MAY APPOINT
INDEPENDENT REFEREES TO CONDUCT HEARINGS REQUESTED PURSUANT TO
SUBSECTION
(7)(b)(I) OF THIS SECTION ON BEHALF OF THE COUNTY BOARD
AND TO MAKE FINDINGS AND SUBMIT RECOMMENDATIONS TO THE COUNTY
BOARD FOR ITS FINAL ACTION
.
(8) Reporting to administrator. (a) N
O LATER THAN SEPTEMBER
10, 2025, AND SEPTEMBER 10 OF EACH YEAR THEREAFTER, EACH ASSESSOR
SHALL FORWARD TO THE ADMINISTRATOR A REPORT ON THE RESIDENTIAL
REAL PROPERTY IN THE ASSESSOR
'S COUNTY THAT QUALIFIES FOR
CLASSIFICATION AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY
FOR THE CURRENT PROPERTY TAX YEAR
. FOR EACH UNIT OF RESIDENTIAL
REAL PROPERTY
, THE REPORT MUST INCLUDE:
PAGE 12-SENATE BILL 24-111 (I) THE LEGAL DESCRIPTION OF THE PROPERTY ;
(II) T
HE SCHEDULE OR PARCEL NUMBER FOR THE PROPERTY ;
(III) T
HE NAME AND SOCIAL SECURITY NUMBER OF THE APPLICANT
WHO CLAIMED THE CLASSIFICATION FOR THE PROPERTY AND
, IF APPLICABLE,
THE APPLICANT'S SPOUSE OR CIVIL UNION PARTNER WHO OCCUPIES THE
PROPERTY
;
(IV) A
STATEMENT OF WHAT THE VALUATION FOR ASSESSMENT OF
THE PROPERTY WOULD BE IF IT HAD NOT QUALIFIED AS QUALIFIED
-SENIOR
PRIMARY RESIDENCE REAL PROPERTY AND THE VALUATION FOR ASSESSMENT
OF THE PROPERTY AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL
PROPERTY
; AND
(V) ANY OTHER INFORMATION THAT THE ADMINISTRATOR
REASONABLY DEEMS NECESSARY
.
(b) (I) T
HE ADMINISTRATOR SHALL EXAMINE THE REPORTS SENT BY
EACH ASSESSOR PURSUANT TO SUBSECTION
(8)(a) OF THIS SECTION TO
ENSURE THAT NO APPLICANT HAS APPLIED FOR A QUALIFIED
-SENIOR PRIMARY
RESIDENCE REAL PROPERTY CLASSIFICATION WITHOUT MEETING ALL LEGAL
REQUIREMENTS FOR OBTAINING THE CLASSIFICATION
. NO LATER THAN
NOVEMBER 1, 2025, AND NOVEMBER 1 OF EACH YEAR THEREAFTER, IF THE
ADMINISTRATOR DETERMINES THAT AN APPLICANT HAS APPLIED FOR MORE
THAN ONE PROPERTY TO BE CLASSIFIED AS QUALIFIED
-SENIOR PRIMARY
RESIDENCE REAL PROPERTY
, THE ADMINISTRATOR SHALL PROVIDE WRITTEN
NOTICE TO THE APPLICANT THAT THE APPLICANT HAS APPLIED FOR MORE
THAN ONE SUCH CLASSIFICATION AND IS THEREFORE NOT ENTITLED TO THE
CLASSIFICATION FOR ANY PROPERTY
. IF THE ADMINISTRATOR DETERMINES
THAT THE APPLICANT AND THE APPLICANT
'S SPOUSE HAVE APPLIED FOR
SEPARATE PROPERTIES TO BE CLASSIFIED AS QUALIFIED
-SENIOR PRIMARY
RESIDENCE REAL PROPERTY
, THAT THE CLASSIFICATION WAS APPLIED FOR IN
VIOLATION OF SUBSECTION
(4) OF THIS SECTION, THAT THE APPLICANT HAS
CLAIMED THE CLASSIFICATION FOR RESIDENTIAL REAL PROPERTY THAT THE
APPLICANT DOES NOT OWN AND OCCUPY AS THE APPLICANT
'S PRIMARY
RESIDENCE AS REQUIRED BY SUBSECTION
(2)(a) OF THIS SECTION, OR THAT
THE APPLICANT IS OTHERWISE INELIGIBLE FOR THE CLASSIFICATION
, THE
ADMINISTRATOR SHALL PROVIDE WRITTEN NOTICE TO AN APPLICANT THAT
THE APPLICANT IS INELIGIBLE AND THE REASON FOR THE INELIGIBILITY
. THE
PAGE 13-SENATE BILL 24-111 NOTICE MUST ALSO INCLUDE A STATEMENT SPECIFYING THE DEADLINE AND
PROCEDURES FOR PROTESTING THE DENIAL OF THE CLASSIFICATION OR
CLASSIFICATIONS CLAIMED
.
(II) A
N APPLICANT WHOSE APPLICATION FOR A QUALIFIED -SENIOR
PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATION IS DENIED BY THE
ADMINISTRATOR PURSUANT TO SUBSECTION
(8)(b)(I) OF THIS SECTION MAY
FILE A WRITTEN PROTEST WITH THE ADMINISTRATOR NO LATER THAN
NOVEMBER 15 OF THE YEAR IN WHICH THE CLASSIFICATION WAS DENIED . A
WRITTEN PROTEST RETURNED BY MAIL IS DEEMED FILED ON THE DATE IT IS
POSTMARKED
. IF THE GROUND FOR THE DENIAL IS THAT THE APPLICANT , OR
THE APPLICANT AND THE APPLICANT
'S SPOUSE OR CIVIL UNION PARTNER,
CLAIMED MULTIPLE CLASSIFICATIONS, THE SOLE GROUND FOR A PROTEST IS
THAT THE APPLICANT
, OR THE APPLICANT AND THE APPLICANT'S SPOUSE OR
CIVIL UNION PARTNER
, FILED ONLY ONE CLAIM FOR THE CLASSIFICATION ,
AND THE PROTEST MUST SPECIFY THE PROPERTY IDENTIFIED BY THE
ADMINISTRATOR IN THE NOTICE DENYING THE CLASSIFICATION FOR WHICH
NO CLASSIFICATION WAS CLAIMED
. IF THE GROUND FOR THE DENIAL IS THAT
THE APPLICANT IS NOT AN OWNER
-OCCUPIER OF THE RESIDENTIAL REAL
PROPERTY FOR WHICH THE CLASSIFICATION IS CLAIMED
, THE SOLE GROUNDS
FOR A PROTEST ARE THAT THE APPLICANT ACTUALLY IS AN OWNER
-OCCUPIER
AND THAT THE APPLICANT QUALIFIES FOR THE CLASSIFICATION
. IF A PROTEST
IS DENIED
, THE ADMINISTRATOR SHALL MAIL THE APPLICANT A WRITTEN
STATEMENT OF THE BASIS FOR THE DENIAL AND A COPY OF EACH
CLASSIFICATION APPLICATION FILED WITH AN ASSESSOR THAT THE
APPLICANT CLAIMED HAD NOT BEEN FILED
.
(c) N
O LATER THAN DECEMBER 1, 2025, AND EACH DECEMBER 1
THEREAFTER, AND AFTER EXAMINING THE REPORTS SENT BY EACH ASSESSOR ,
DENYING APPLICATIONS FOR CLASSIFICATION OF PROPERTY AS
QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY , AND DECIDING
PROTESTS IN ACCORDANCE WITH SUBSECTION
(8)(b) OF THIS SECTION, THE
ADMINISTRATOR SHALL PROVIDE WRITTEN NOTICE TO THE ASSESSOR OF
EACH COUNTY IN WHICH AN APPLICATION HAS BEEN DENIED BECAUSE THE
APPLICANT WAS INELIGIBLE THAT INCLUDES THE IDENTITY OF EACH DENIED
APPLICANT AND THE REASON FOR EACH DENIAL
.
(d) N
O LATER THAN JANUARY 10, 2026, AND EACH JANUARY 10
THEREAFTER, EACH ASSESSOR SHALL FORWARD TO THE ADMINISTRATOR A
PARTIAL COPY OF THE TAX WARRANT FOR THE ASSESSOR
'S COUNTY THAT
PAGE 14-SENATE BILL 24-111 INCLUDES ONLY PROPERTY FOR WHICH THE ASSESSOR HAS GRANTED AN
APPLICATION FOR CLASSIFICATION AS QUALIFIED
-SENIOR PRIMARY
RESIDENCE REAL PROPERTY
. THE ADMINISTRATOR SHALL EXAMINE THE TAX
WARRANTS TO ENSURE THAT NO ADDITI ONAL CLASSIFICATIONS OF PROPERTY
AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY HAVE BEEN
ALLOWED SINCE THE ADMINISTRATOR EXAMINED THE REPORTS PREVIOUSLY
RECEIVED FROM THE ASSESSORS AND THAT EACH ASSESSOR HAS REMOVED
FROM THE TAX WARRANT ALL SUCH CLASSIFICATIONS THAT THE
ADMINISTRATOR PREVIOUSLY DENIED
. NO LATER THAN JANUARY 17, 2026,
AND NO LATER THAN EACH JANUARY 17 THEREAFTER, THE ADMINISTRATOR
SHALL NOTIFY EACH ASSESSOR AND EACH TREASURER OF ANY SUCH
CLASSIFICATIONS TO BE REMOVED FROM THE TAX WARRANT
.
(9) Reporting and reimbursement of property tax revenue
reductions. (a) N
O LATER THAN MARCH 1, 2026, AND NO LATER THAN
MARCH 1, 2027, EACH TREASURER SHALL FORWARD TO THE ADMINISTRATOR
A REPORT ON THE PROPERTIES IN THE ASSESSOR
'S COUNTY THAT WERE
CLASSIFIED AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY FOR
THE PREVIOUS PROPERTY TAX YEAR
. THE ADMINISTRATOR SHALL
CROSS
-CHECK THE REPORT AS SPECIFIED IN SUBSECTION (9)(b) OF THIS
SECTION BEFORE CORRECTING IT
, IF NECESSARY, AND FORWARDING IT TO THE
STATE TREASURER TO ENABLE THE STATE TREASURER TO ISSUE A
REIMBURSEMENT WARRANT TO EACH TREASURER IN ACCORDANCE WITH
SUBSECTION
(9)(c) OF THIS SECTION. THE REPORT MUST INCLUDE:
(I) A
STATEMENT OF THE TOTAL REDUCTION IN VALUATION FOR
ASSESSMENT IN THE COUNTY RESULTING FROM THE CLASSIFICATION OF
RESIDENTIAL REAL PROPERTY AS QUALIFIED
-SENIOR PRIMARY RESIDENCE
REAL PROPERTY AND THE TOTAL PROPERTY TAX REVENUE LOST BY LOCAL
GOVERNMENTAL ENTITIES WITHIN THE COUNTY AS A RESULT OF THAT
CLASSIFICATION THAT MUST BE REIMBURSED BY THE STATE
;
(II) W
ITH RESPECT TO EACH UNIT OF RESIDENTIAL REAL PROPERTY
THAT IS CLASSIFIED AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL
PROPERTY
:
(A) T
HE LEGAL DESCRIPTION OF THE PROPERTY ;
(B) T
HE SCHEDULE OR PARCEL NUMBER FOR THE PROPERTY ;
PAGE 15-SENATE BILL 24-111 (C) THE NAME OF THE APPLICANT WHO APPLIED FOR AND OBTAINED
THE CLASSIFICATION FOR THE PROPERTY AND EACH ADDITIONAL PERSON
WHO OCCUPIES THE PROPERTY
;
(D) A
STATEMENT OF WHAT THE VALUATION FOR ASSESSMENT OF
THE PROPERTY WOULD BE IF IT HAD NOT QUALIFIED AS QUALIFIED
-SENIOR
PRIMARY RESIDENCE REAL PROPERTY AND THE VALUATION FOR ASSESSMENT
OF THE PROPERTY AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL
PROPERTY AND THE AMOUNT OF TAXES DUE ON THE PROPERTY
; AND
(E) ANY OTHER INFORMATION THAT THE ADMINISTRATOR
REASONABLY DEEMS NECESSARY
.
(b) A
FTER RECEIVING REPORTS FROM EACH TREASURER PURSUANT
TO SUBSECTION
(9)(a) OF THIS SECTION, THE ADMINISTRATOR SHALL
CROSS
-CHECK THE REPORTS TO IDENTIFY ANY CLASSIFICATION OF PROPERTY
AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY ALLOWED IN A
COUNTY THAT MUST BE DENIED DUE TO A FAILURE OF THE INDIVIDUAL
ALLOWED THE CLASSIFICATION TO SATISFY ALL LEGAL REQUIREMENTS FOR
OBTAINING THE CLASSIFICATION
. THE ADMINISTRATOR SHALL REMOVE ANY
CLASSIFICATION OF PROPERTY AS QUALIFIED
-SENIOR PRIMARY RESIDENCE
REAL PROPERTY THAT MUST BE DENIED FROM THE REPORT IN WHICH IT
APPEARS AND SHALL FORWARD ALL REPORTS TO THE STATE TREASURER NO
LATER THAN THE
APRIL 1 IMMEDIATELY FOLLOWING THE RECEIPT OF THE
REPORTS BY THE ADMINISTRATOR
. IN ADDITION, IF THE ADMINISTRATOR
IDENTIFIES ANY CLASSIFICATION OF PROPERTY AS QUALIFIED
-SENIOR
PRIMARY RESIDENCE REAL PROPERTY THAT WAS IMPROPERLY ALLOWED FOR
A PRIOR PROPERTY TAX YEAR FOR WHICH THE STATE TREASURER
REIMBURSED A TREASURER PURSUANT TO SUBSECTION
(9)(c) OF THIS
SECTION OR IDENTIFIES ANY CLASSIFICATION PROPERLY ALLOWED FOR SUCH
A PRIOR PROPERTY TAX YEAR FOR WHICH THE STATE TREASURER DID NOT
REIMBURSE A TREASURER
, THE ADMINISTRATOR SHALL ADVISE THE STATE
TREASURER TO ADJUST THE CURRENT YEAR REIMBURSEMENT TO THE
TREASURER TO CORRECT THE ERROR
. NO LATER THAN THAT APRIL 1, THE
ADMINISTRATOR SHALL ALSO NOTIFY THE TREASURER AND ASSESSOR OF
EACH COUNTY OF ALL CLASSIFICATIONS OF PROPERTY AS QUALIFIED
-SENIOR
PRIMARY RESIDENCE REAL PROPERTY REMOVED FROM THE REPORT FOR THE
COUNTY AND ANY RESULTING AND OTHER ADJUSTMENTS TO THE AMOUNT OF
CURRENT YEAR REIMBURSEMENT TO BE PAID BY THE STATE TREASURER TO
THE TREASURER
.
PAGE 16-SENATE BILL 24-111 (c) (I) (A) NO LATER THAN APRIL 15, 2026, AND NO LATER THAN
APRIL 15, 2027, THE STATE TREASURER SHALL ISSUE A WARRANT TO EACH
TREASURER FOR THE AMOUNT NEEDED TO FULLY REIMBURSE ALL LOCAL
GOVERNMENTAL ENTITIES WITHIN THE TREASURER
'S COUNTY FOR THE TOTAL
PROPERTY TAX REVENUE LOST FOR THE PRIOR PROPERTY TAX YEAR THAT
ARE PAYABLE DURING THE YEAR IN WHICH THE STATE TREASURER ISSUES
THE WARRANT
. THE REIMBURSEMENT MUST BE PAID FROM THE STATE
GENERAL FUND AND IS NOT SUBJECT TO THE STATUTORY LIMITATION ON
STATE GENERAL FUND APPROPRIATIONS SET FORTH IN SECTION
24-75-201.1.
(B) A
S USED IN SUBSECTION (9)(c)(I)(A) OF THIS SECTION, "TOTAL
PROPERTY TAX REVENUE LOST
" INCLUDES ONLY REVENUE LOST AS A RESULT
OF CLASSIFICATIONS OF PROPERTY AS QUALIFIED
-SENIOR RESIDENTIAL REAL
PROPERTY PROPERLY ALLOWED IN ACCORDANCE WITH THE REQUIREMENTS
OF THIS SECTION AND DOES NOT INCLUDE ANY REVENUE LOST AS A RESULT
OF SUCH A CLASSIFICATION BEING ERRONEOUSLY ALLOWED
.
(II) E
ACH TREASURER SHALL DISTRIBUTE THE TOTAL AMOUNT
RECEIVED FROM THE STATE TREASURER PURSUANT TO SUBSECTION
(9)(c)(I)(A) OF THIS SECTION TO THE LOCAL GOVERNMENTAL ENTITIES
WITHIN THE TREASURER
'S COUNTY AS IF THE TOTAL PROPERTY TAX REVENUE
LOST HAD BEEN REGULARLY PAID
. WHEN A TREASURER DISTRIBUTES THAT
AMOUNT
, THE TREASURER SHALL PROVIDE EACH LOCAL GOVERNMENTAL
ENTITY WITH A STATEMENT OF THE AMOUNT DISTRIBUTED TO THE LOCAL
GOVERNMENTAL ENTITY THAT REPRESENTS REIMBURSEMENT RECEIVED
FROM THE STATE FOR TOTAL PROPERTY TAX REVENUE LOST
.
(III) N
OTWITHSTANDING THE PROVISIONS OF SUBSECTIONS (9)(c)(I)
AND (9)(c)(II) OF THIS SECTION, THE STATE TREASURER SHALL REDUCE A
LOCAL GOVERNMENTAL ENTITY
'S REIMBURSEMENT AS NECESSARY TO
PREVENT THE LOCAL GOVERNMENTAL ENTITY FROM EXCEEDING ITS FISCAL
YEAR SPENDING LIMIT UNDER SECTION
20 (7)(b) OF ARTICLE X OF THE STATE
CONSTITUTION FOR THE FISCAL YEAR
.
(d) I
N ACCORDANCE WITH SUBSECTION (9)(b) OF THIS SECTION, FOR
ANY PROPERTY TAX YEAR COMMENCING ON OR AFTER
JANUARY 1, 2025, BUT
BEFORE
JANUARY 1, 2027, THE STATE TREASURER SHALL NOT REIMBURSE A
TREASURER FOR TOTAL PROPERTY TAX REVENUE LOST AS A RESULT OF A
CLASSIFICATION OF REAL PROPERTY AS QUALIFIED
-SENIOR PRIMARY
RESIDENCE REAL PROPERTY THAT WAS ERRONEOUSLY GRANTED IN THE
PAGE 17-SENATE BILL 24-111 TREASURER'S COUNTY. IF, PURSUANT TO SUBSECTION (9)(b) OF THIS
SECTION
, THE ADMINISTRATOR ADVISES THE STATE TREASURER THAT THE
STATE TREASURER HAS PROVIDED EITHER TOO MUCH OR TOO LITTLE
REIMBURSEMENT TO A TREASURER FOR CLASSIFICATIONS OF REAL PROPERTY
AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY GRANTED IN THE
TREASURER
'S COUNTY FOR ANY PRIOR PROPERTY TAX YEAR COMMENCING ON
OR AFTER
JANUARY 1, 2025, BUT BEFORE JANUARY 1, 2027, THE STATE
TREASURER SHALL ADJUST THE REIMBURSEMENT FOR THE CURRENT
PROPERTY TAX YEAR AS DIRECTED BY THE ADMINISTRATOR IN ORDER TO
CORRECT THE ERROR
.
(e) N
OTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY ,
THE REPORTS REQUIRED BY THIS SUBSECTION (9) AND THEIR CONTENTS
SHALL BE KEPT CONFIDENTIAL BY AN ASSESSOR
, A TREASURER, THE
ADMINISTRATOR
, THE STATE TREASURER, OR THE STATE AUDITOR; EXCEPT
THAT SAID PERSONS MAY PROVIDE THE REPORTS TO EACH OTHER AS
REQUIRED OR AUTHORIZED BY LAW
.
(10) Reimbursement as refund of excess state revenues. (a) T
HE
GENERAL ASSEMBLY HEREBY FINDS AND DECLARES THAT SECTION
20 OF
ARTICLE
X OF THE STATE CONSTITUTION AUTHORIZES THE STATE TO USE ANY
REASONABLE METHOD TO MAKE REQUIRED REFUNDS OF EXCESS STATE
REVENUES
, AND THE PAYMENT BY THE STATE OF REIMBURSEMENT TO LOCAL
GOVERNMENTAL ENTITIES FOR TOTAL PROPERTY TAX REVENUE LOST AS A
RESULT OF THE CLASSIFICATION OF REAL PROPERTY AS QUALIFIED
-SENIOR
PRIMARY RESIDENCE REAL PROPERTY
, WHICH CLASSIFICATION DIRECTLY
REDUCES THE TAX LIABILITY OF TAXPAYING
COLORADO RESIDENTS
THROUGHOUT THE STATE
, IS A REASONABLE METHOD OF MAKING SUCH
REFUNDS
.
(b) F
OR ANY STATE FISCAL YEAR COMMENCING ON OR AFTER JULY
1, 2024, FOR WHICH STATE REVENUES, AS DEFINED IN SECTION 24-77-103.6
(6)(c),
EXCEED THE EXCESS STATE REVENUES CAP , AS DEFINED IN SECTION
24-77-103.6 (6)(b)(I)(C) OR (6)(b)(I)(D), AND ARE REQUIRED TO BE
REFUNDED IN ACCORDANCE WITH SECTION
20 OF ARTICLE X OF THE STATE
CONSTITUTION
, THE LESSER OF ALL REIMBURSEMENT PAID BY THE STATE
TREASURER TO EACH TREASURER AS REQUIRED BY SUBSECTION
(9)(c) OF
THIS SECTION FOR THE PROPERTY TAX YEAR THAT COMMENCED DURING THE
STATE FISCAL YEAR OR AN AMOUNT OF SUCH REIMBURSEMENT EQUAL TO THE
AMOUNT OF SUCH EXCESS STATE REVENUES ABOVE THE AMOUNT OF SUCH
PAGE 18-SENATE BILL 24-111 EXCESS STATE REVENUES THAT ARE REQUIRED TO BE REFUNDED PURSUANT
TO SECTION
39-3-209 IS A REFUND OF SUCH EXCESS STATE REVENUES .
SECTION 5. In Colorado Revised Statutes, 39-21-113, amend (24)
as follows:
39-21-113. Reports and returns - rule - repeal.
(24) Notwithstanding any other provision of this section, the executive
director, after receiving from the property tax administrator a list of
individuals who are
EITHER claiming the property tax exemptions for
qualifying seniors and qualifying veterans with a disability allowed under
part 2 of article 3 of this title 39
OR APPLYING FOR THE QUALIFIED-SENIOR
PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATION FOR THE PROPERTY
DESCRIBED IN SECTION
39-1-104.6, shall provide to the property tax
administrator information pertaining to the listed individuals, including their
names, social security numbers, marital and income tax filing status, and
residency status, needed by the administrator to verify that the exemption
OR CLASSIFICATION is allowed only to applicants who satisfy legal
requirements for claiming it. The administrator and the administrator's
agents, clerks, and employees shall keep all information received from the
executive director confidential, and any individual who fails to do so is
guilty of a misdemeanor and subject to punishment as specified in
subsection (6) of this section.
SECTION 6. Act subject to petition - effective date. This act
takes effect at 12:01 a.m. on the day following the expiration of the
ninety-day period after final adjournment of the general assembly; except
that, if a referendum petition is filed pursuant to section 1 (3) of article V
of the state constitution against this act or an item, section, or part of this act
within such period, then the act, item, section, or part will not take effect
unless approved by the people at the general election to be held in
PAGE 19-SENATE BILL 24-111 November 2024 and, in such case, will take effect on the date of the official
declaration of the vote thereon by the governor.
____________________________ ____________________________
Steve Fenberg Julie McCluskie
PRESIDENT OF SPEAKER OF THE HOUSE
THE SENATE OF REPRESENTATIVES
____________________________ ____________________________
Cindi L. Markwell Robin Jones
SECRETARY OF CHIEF CLERK OF THE HOUSE
THE SENATE OF REPRESENTATIVES
APPROVED________________________________________
(Date and Time)
_________________________________________
Jared S. Polis
GOVERNOR OF THE STATE OF COLORADO
PAGE 20-SENATE BILL 24-111