Colorado Modifies Property Taxation for Seniors, Businesses

The Colorado Governor signed a law modifying property tax provisions. The law limits the qualified-senior primary residence real property classification to property tax years before Jan. 1, 2027, and increases the business personal property tax exemption to $58,000 for property tax years commencing on or after Jan. 1, 2027. The law also modifies administrative reporting and reimbursement provisions related to the exemptions and repeals inflation-adjustment mechanisms applicable to the business personal property exemption after 2027. The law takes effect Aug. 12. [S.B. 116, enacted 06/03/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.