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State of Colorado Property Tax Deferral Program enrollment opens in Dolores County

Residents of Dolores County can apply for tax deferral, if eligible and impacted by rising property taxes. (Unsplash)
Program gives tax deferment to homeowners who are negatively impacted by property tax increases

On Monday, Feb. 5, the Colorado Department of the Treasury sent out a release to remind Dolores County homeowners of their Property Tax Deferral Program, which will remain open for enrollment until April 1.

According to information provided by the Department of the Treasury, the program exists to aid Dolores County homeowners who have been negatively impacted by property tax increases by providing a tax deferment.

“Expanding this program provides both short and long-term financial relief for homeowners, while also providing an equitable statewide tax-relief measure to taxpayers,” said Colorado State Treasurer Dave Young. “Anytime we can keep folks in their homes and help them find tax relief at the same time is a win for Coloradans.”

Though the Colorado Property Tax Deferral Program originally helped seniors and active members of the military stay in their homes by relieving them of their property taxes, it now works to help homeowners who were affected by property taxes that rose from the years 2020-2023, according to the Treasury.

“Due to the special legislative session, counties are sending out tax bills a few weeks later than previous years,” Treasury spokesperson Sheena Kadi said. “Dolores County has submitted their tax bill information to the state, and homeowners are ready to see if they qualify now.”

Those who wish to see if they are eligible for the tax deferment can check their eligibility at www.colorado.propertytaxdeferral.com.

In 2023, the Colorado Department of the Treasury deferred a total of $3,685,648. This was the accumulation of 52 active military homeowners, 171 in the tax growth category and 985 senior citizens.

The tax deferrals in 2021 and 2022 were $2.6 million and $3.6 million, respectively.

Depending on the individual and situation, the program can allow the homeowners who qualify to defer “all or a portion of property taxes depending on the category.”

The Treasury went on to say that eligible seniors and active military can defer “the total property tax owed,” and for “eligible tax growth cap applicants,” it can defer up to $10,000 in property taxes.

One misconception about the program, according to the Department of the Treasury, is that it exempts taxes, but this is not the case. Instead, it is a “loan to assist Coloradans with the payment of property taxes if an application is submitted and the applicant is eligible. The deferral loan is recorded as a junior lien against a participant's property and does not have to be repaid until a later date.”

To qualify, homeowners must be occupying the property they are claiming for the deferral, all property taxes prior to 2024 must be paid in full and the property cannot be “income producing.”

“New this year, seniors who rent a room or a portion of their home and active duty military renting while they are out of the country or stationed elsewhere are able to participate,” Property Tax Deferral Program Administrator Vanda Howell said. “New eligibility requirements have changed for active military with VA backed loans. These changes allow more homeowners more opportunities to participate.”

Applications for 2024 are open until April 1 and claims must be filed after Jan. 1 and on or before April 1 to qualify for deferral.

Each year, applicants are asked to reapply to confirm continued eligibility in the program.

For more information, can visit www.colorado.propertytaxdeferral.com/faq or by calling 833-634-2513. Program coordinators can also be reached via email at cotreasproptax@state.co.us.