Senate Bill 22-093 Summary

• Increases the property tax exemption for owner-occupied primary residences from $200,000 to $400,000 of actual value (50% exempt) for qualifying seniors and veterans with disabilities, effective January 1, 2022

• Allows seniors to qualify for the exemption on a new primary residence if they previously qualified on a former residence but were forced to relocate due to medical necessity certified by a licensed Colorado physician

• Limits the medical necessity exemption to one use per senior and requires seniors to remain in the new residence without acquiring other primary residences since the medical relocation

• Requires the state property tax administrator to develop a standardized form for physicians to certify medical necessity, to be made available on the Division of Property Taxation website

• Adopts "people first language" terminology, changing "disabled veteran" to "qualifying veteran with a disability" throughout Colorado Revised Statutes related to property tax exemptions