CO SCR002

Increases the homestead property tax exemption cap from $200,000 to $300,000 of actual value for the 2023 tax year, with subsequent years adjusted annually for inflation beginning in 2024.

Makes the homestead exemption portable for qualifying seniors by allowing them to move and claim the exemption on a new property without meeting the 10-year ownership and occupancy requirement, provided they continuously owned residential property since originally qualifying.

Applies to property tax years commencing on or after January 1, 2023, for qualifying seniors (age 65+), surviving spouses, and disabled veterans.

Requires the amendment to pass with at least 55% voter approval at the November 8, 2022 election to become part of the Colorado Constitution.

Preserves the General Assembly's authority to raise or lower the exemption amount by law despite the constitutional change.