HR20-1004 Summary

• Recognizes the importance of Colorado's senior homestead exemption, approved by voters in 2000 and expanded in 2006 to include disabled veterans, which provides property tax relief for qualifying seniors and disabled veterans.

• Acknowledges that rising home values and property taxes have made it increasingly difficult for seniors and disabled veterans with limited and fixed incomes to pay property taxes and remain in their homes.

• References COVID-19's severe impact on the state's general fund for fiscal year 2020-21 and notes that seniors face heightened health risks from COVID-19, making it more difficult for them to earn income and pay property taxes.

• Notes that the joint budget committee considered suspending the senior homestead exemption as a budget-balancing measure, and that proposed amendments (J.001, J.003, J.005, J.015, J.017, J.019, J.022, J.025, J.033, J.035, J.039, J.045, J.057, J.062, J.063, J.065, and J.070) totaling nearly $600 million in reductions could have prevented the need to suspend the exemption.

• House of Representatives commits to recognizing the senior homestead exemption's significance and preserving it as an expression of the will of Colorado voters.