How does Colorado's senior property tax exemption work in El Paso County?

Colorado exempts half of the first $200,000 of your home's value from property tax if you're 65 or older on January 1 and have owned and lived in the home as your primary residence for the 10 years before that date. In El Paso County, you apply once through the Assessor, by July 15. A surviving spouse can often keep it. The exemption stays with that home, so moving usually restarts the 10-year clock, and the legislature decides each year whether to fund it.

Who qualifies

To qualify, all three of these have to be true as of January 1 of the year you apply:

• You're 65 or older.
• You've owned the home for at least 10 consecutive years.
• You've lived in it as your primary residence for those same 10 years.

Surviving spouses. If your spouse qualified, you may be able to keep the exemption after their death, as long as you haven't remarried and still live in the home. Reapply with the Assessor using the surviving spouse form.

When the 10-year rule can bend. The ownership and occupancy requirements can still be met in a few situations:

• The home is held in a trust or similar entity for estate planning purposes. (You'll use the long-form application.)
• You've moved into a hospital, nursing home, or assisted living, and the home is either empty or occupied by your spouse or a financial dependent.
• Your previous home was condemned or sold under threat of condemnation.
• Your previous home was destroyed or made uninhabitable by a natural disaster.

Limits. A person or married couple can have only one exemption, on one property. And a home can receive only one exemption per year, so you can't combine the senior exemption with the disabled veteran exemption on the same home, even if you qualify for both.

What it's worth

When the program is funded, 50% of the first $200,000 of your home's actual value is exempt. On a home the Assessor values at $200,000 or more, that's $100,000 of value that isn't taxed. The state reimburses local governments for the lost revenue.

What that saves you in dollars depends on your home's tax area, because every address carries a different combination of school, city, county, fire, and metro district levies. See how property taxes work in El Paso County and why two similar homes can have very different tax bills. For a rough sense of scale, Colorado's Legislative Council staff estimated the benefit at about $579 a year per household in 2024. That's a statewide estimate, not a figure for your home.

It isn't guaranteed every year. The exemption exists in the Colorado Constitution, but the legislature decides each year whether to fund it, and in some past budget years it wasn't funded. As of September 2026, the El Paso County Assessor confirms it's funded for tax year 2026, payable in 2027.

How to apply in El Paso County

• Apply once. File with the El Paso County Assessor. Once you're approved, the exemption stays in effect with no annual reapplication until something changes.
• Deadline: July 15 for the current tax year. Late applications are accepted through August 15, but you give up your right to appeal a denial.
• Short form or long form. Most owners use the short form. If the home is in a trust or other entity, use the long form.
• Report changes within 60 days. If ownership or occupancy changes, or the home is no longer your primary residence, Colorado law requires you to tell the Assessor within 60 days.
• Questions: the Assessor's office is at (719) 520-6600 or asrweb@elpasoco.com.

It stays with the home, not with you

This is the part that surprises people. The exemption is tied to the home you've owned and lived in for 10 years. If you move, the new home starts its own 10-year clock, so you'll usually lose the exemption until you've been there a decade.

You wouldn't be the first. When lawmakers created a temporary portable benefit in 2024, they said losing the exemption discouraged seniors from downsizing or moving closer to family. The legislature's staff estimated that about 56,000 Colorado seniors had qualified since 2020 and then moved. That portable benefit covers tax years 2025 and 2026 only; a 2026 law ended it after tax year 2026. See what happens to your property taxes when you downsize.

The same rule works in reverse when you buy. The tax figure on a listing reflects the current owner, and if they have the senior exemption, it goes away when they sell. Ask for an estimate of what you'll actually pay.

How it fits into a decision to move

We don't pit the wealth piece against the life. The first question is always the life question: why do you want to move? Then we look at what the move does to your finances. Do you have the senior exemption now? Is that something you'll need in the next place? How does your monthly cash flow change?

At any point, you can tell me to butt out. My goal is that you feel confident in the way you're moving forward. As a Certified Financial Coach, I can add another perspective on the numbers if you want one. It doesn't have to be used. It's just there if you want another set of eyes.

For many people, losing the exemption is one line in a larger comparison. See whether downsizing actually saves money and whether staying in a paid-off home is really free.

What's specific to Colorado Springs and El Paso County

• The Assessor handles the exemption. Applications, the surviving spouse form, and questions about eligibility all go to the El Paso County Assessor, not the Treasurer.
• Other help for homeowners 65 and older. Colorado also offers a property tax deferral loan that's repaid when the home sells and an income-based property tax, rent, and heat rebate. The Pikes Peak Area Agency on Aging can point you to programs you may qualify for. See what help is available for seniors who are moving or downsizing.
• Disabled veterans have a parallel exemption with no age or 10-year rule. If you qualify for both, compare them with the Assessor. See the disabled veteran property tax exemption.

A simple way to think it through

• If you're 65 or older and have lived in your home 10 years or more, confirm with the Assessor that you're approved. If you never applied, apply before July 15.
• If your spouse had the exemption and has died, reapply as a surviving spouse.
• If your home is in a trust, use the long form, and confirm the trust setup with your estate attorney.
• If you're thinking about moving, include the lost exemption in a side-by-side comparison of staying and moving, alongside your reasons for the move.
• If you're buying from a senior, don't budget from the listing's tax figure. Ask for an estimate without the exemption.

What could change the answer

• State funding. The legislature decides each year whether to fund the exemption.
• The law. The 2024 portable benefit ends after tax year 2026, and the legislature could change the rules again.
• How the home is owned. A trust or other entity changes which application you use.
• A move into care. Moving into a nursing home or assisted living may let you keep the exemption if the home stays empty or is occupied by your spouse or a dependent.
• Another exemption. If you qualify for the disabled veteran exemption, only one can apply to the home.

When to talk with a professional

The El Paso County Assessor is the right place for eligibility, applications, and deadlines. A CPA can explain how property taxes fit your overall budget and taxes. An estate attorney can confirm whether a trust or other ownership structure affects your eligibility. A real estate professional can help you compare the full monthly cost of staying with the cost of a specific next home.

Sources

• El Paso County Assessor, Senior Property Tax Exemptions: https://assessor.elpasoco.com/senior-property-tax-exemption/
• El Paso County, "El Paso County Assessor Reminds Homeowners of Senior Property Tax Deadlines and Wildfire Property Tax Relief" (July 10, 2026): https://www.elpasoco.com/el-paso-county-assessor-reminds-homeowners-of-senior-property-tax-deadlines-and-wildfire-property-tax-relief/
• Colorado Division of Property Taxation, Property Tax Exemption for Senior Citizens in Colorado: https://dpt.colorado.gov/property-tax-exemption-for-senior-citizens-in-colorado
• Colorado Division of Property Taxation, Frequently Asked Exemption Questions: https://dpt.colorado.gov/frequently-asked-exemption-questions
• Colorado Legislative Council Staff, SB 24-111 Fiscal Note (July 30, 2024): https://content.leg.colorado.gov/sites/default/files/documents/2024A/bills/fn/2024a_sb111_f1.pdf
• Colorado House Democrats, "Lieder, Young Bill to Save Older Coloradans Money, Make Senior Homestead Property Tax Exemption Savings Portable Passes" (May 8, 2024): https://www.cohousedems.com/news/lieder,-young-bill-to-save-older-coloradans-money,-make-senior-homestead-property-tax-exemption-savings-portable-passes
• Colorado General Assembly, SB26-116 Property Tax Modifications: https://leg.colorado.gov/bills/SB26-116