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HCR 25-1001

Senior Property Tax Exemption Portability

2025 Regular Session Introduced by Ken DeGraaf

HCR 25-1001: Senior Property Tax Exemption Portability SummaryThis bill, titled the "Senior Property Tax Exemption Portability", aims to allow senior citizens in Colorado to transf

House Committee on Finance Postpone Indefinitely
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Bill Summary · HCR 25-1001

HCR 25-1001: Senior Property Tax Exemption Portability

Summary

This bill, titled the "Senior Property Tax Exemption Portability", aims to allow senior citizens in Colorado to transfer their existing property tax exemption when they move to a new residence within the state. Currently, seniors who qualify for the state's property tax exemption program lose that benefit if they sell their home and move to a new location.

Key Provisions

  • Enables seniors aged 65 and older to retain their property tax exemption when purchasing a new primary residence in Colorado
  • Allows the exemption to be transferred to the new home, rather than requiring seniors to re-qualify each time they move
  • Applies to the state's existing senior property tax exemption, which provides a reduction in the assessed value of a home for qualifying individuals

Impact

  • This bill would benefit Colorado seniors on fixed incomes who wish to downsize, move closer to family, or relocate for other reasons, by preserving their property tax savings
  • It is estimated that over 300,000 senior households in Colorado currently take advantage of the state's property tax exemption program
  • By making the exemption portable, the bill could encourage more seniors to remain in the state rather than relocating to avoid losing their tax benefits

Procedural Details

  • The bill was introduced in the Colorado House of Representatives on January 27, 2025
  • It was referred to the House Committee on Finance, where it was ultimately postponed indefinitely and did not advance further in the legislative process

Overall, HCR 25-1001 aimed to provide more flexibility and financial stability for Colorado's senior citizens by allowing them to maintain their property tax exemptions when moving to a new home within the state.

Compiled from official sources — confirm details with the bill’s official record.

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