Friends,
We wanted to share some important updates about property tax exemptions that could benefit you or someone in your network!
Did you know:
Seniors aged 65 or older who have lived in their home for the last 10 consecutive years and use it as their primary residence may qualify for reduced property taxes?
Veterans who are 100% disabled (as determined by the Department of Veterans Affairs) and honorably discharged may also qualify for lower property taxes, as long as they have owned and lived in the home as their primary residence prior to January 1st.
Surviving spouses and Gold Star spouses may also qualify for these exemptions.
Exciting Update for Seniors Who Want to Move!
One of the biggest concerns for seniors thinking about moving is the fear of losing their senior tax exemption—but that’s about to change!
This year, lawmakers approved a bill allowing seniors to keep their tax exemption even if they move. However, there’s a catch—this opportunity only applies to the 2025 and 2026 property tax years.
Who Qualifies?
Must have previously qualified for and received the senior property tax exemption in 2020 or later (but are no longer receiving it due to moving).
Must live in the new property as their primary residence.
Important Deadline: March 15th!
The application to reinstate this exemption must be submitted by March 15th, so time is critical! If you know any seniors who were hesitant to move because of this exemption, let them know this valuable tax benefit is now available. Seniors planning to move in 2025 or 2026 can also take advantage of this!
We’re also in another property value assessment year, so when you receive your property valuation from the county, if you have any concerns about them overvaluing your property, please let us know. We’d be happy to help put together information to assist you in fighting your case with the county.
For more details about these exemptions, application information, and resources for Larimer and Weld Counties, or to connect with a trusted lender see the resources below.
As always, if you or someone you know is thinking about buying or selling a home this year, we’d love to help. Don’t hesitate to reach out—we’re here to support you!
Brett & Brittany Sall
The Sall Team
Shelly Borrman
Loan Consultant
Loan Depot
NMLS# 1048021
(970) 481-3340
SBorrman@loandepot.com
https://www.loanDepot.com/sborrman
6305 Fairgrounds Ave., Unit 200, Windsor, Colorado 80550
Builder Specialist | Certified Mortgage Advisor | Keys to Homeownership Specialist
