CO SB132

Allows seniors to qualify for the senior property tax exemption for a new primary residence starting January 1, 2020, if medical necessity required them to leave their former primary residence, even if they owned and occupied it for less than 10 years.

Requires seniors to provide physician certification on a state-developed form to the assessor proving that a medical condition necessitated leaving their former primary residence.

Limits the exemption to seniors who have not previously received it based on medical necessity and who have not owned and occupied another primary residence since stopping occupancy of their former one due to medical necessity.

Defines "medical necessity" as a medical condition certified by a Colorado-licensed physician as having required the owner-occupier to stop occupying their primary residence.

Takes effect August 2, 2019, unless a referendum petition is filed, in which case it requires voter approval at the November 2020 general election.