CO SB273

Allows seniors to qualify for the senior property tax exemption for a primary residence owned and occupied for less than 10 years if medical necessity forced them to leave their former primary residence, effective for property tax years commencing on or after January 1, 2019.

Defines "medical necessity" as a medical condition certified by a Colorado-licensed physician that required a senior to stop occupying their prior primary residence.

Requires seniors to provide written physician verification on a form developed by the state's Division of Property Taxation to claim the exemption.

Restricts the exemption to seniors who have not owned and occupied another primary residence since leaving their former residence due to medical necessity and have not previously received this exemption for another property.

Effective date is 90 days after final adjournment of the general assembly (August 8, 2018), unless subject to voter approval through referendum petition by November 2018.