Do Military Members Get Property Tax Exemptions in Colorado Springs?

Members of the military, veterans and family members of service members and veterans in Colorado have a wide range of military benefits available to them. For military homeowners, one of the biggest questions is whether property tax exemptions are included in those benefits. The short answer is yes. However there are a number of criteria you must meet to qualify for military and veteran property tax exemptions.

There are two types of property tax benefits available to active military members and veterans: the Colorado Disabled Veteran Property Tax Exemption and the Colorado Property Tax Deferral for Active Military Personnel. Read on to find out if you qualify for either of these benefits.

Colorado Disabled Veteran Property Tax Exemption

If you are a veteran who has incurred a service-related disability, you may be eligible for the Disabled Veteran Property Tax Exemption in Colorado. This benefit gives you a 50% tax exemption on the first $200,000 of the value of your primary residence. To qualify, you must meet these requirements:

• Received a service-connected injury that resulted in disability while serving on active duty in the Armed Forces of the United States. The disability must be rated by the Federal Department of Veterans Affairs as 100% permanent.

• Own and occupy the property as your primary residence as of January 1st of the year you are applying for the property tax exemption.

• Able to submit a VA award letter or branch of service medical retirement letter that verifies your status as a 100% permanent disabled veteran.

• Not receiving the senior citizen or the disabled veterans property tax exemption on any other property in Colorado.

If your spouse is the owner of your home, you can still qualify for the exemption provided you have been married on or prior to January 1st of the year you are applying and you both live in the home as a primary residence. Surviving spouses of qualified disabled veterans are also eligible for the exemption.

You can find the application form for the Colorado Disabled Veteran Property Tax Exemption here.

Colorado Property Tax Deferral For Active Military Personnel

If you are an active service member who has been called to military service for more than 30 days, you can apply to defer property taxes for your primary home. This is not an exemption, but rather a lien against your property that you must repay once you no longer qualify for the property tax referral. To qualify, you must meet these requirements:

• Called into active duty for more than 30 consecutive days prior to or on January 1st of the year you are applying for the property tax deferral.

• Own and occupy the property as your primary residence as of January 1st of the year you are applying for the property tax exemption.

• All previous property taxes on the home are paid in full.

• Total liens against the property cannot exceed 100% of the market value of the home. This includes mortgages, other deferrals, etc.

You can find the eligibility check form for the Active Military Property Tax Deferral Program here.

Do you have questions about property tax or military benefits? We’re here to help! Leave us a message here or call 719-338-7294 to speak to one of our military relocation specialists today.