CO HB1156

Makes permanent the reduced property tax valuation for assessment on qualified-senior primary residence real property, which was originally set to expire after the 2025 and 2026 property tax years

Removes the requirement that "sufficient excess state revenues" exist for the reduced valuation to apply

Maintains assessment rates of 6.7-6.8% for local government levies and 6.95-7.05% for school district levies on senior primary residences, with rates varying based on whether statewide actual value growth exceeds 5%

Makes permanent the state's obligation to reimburse local governments annually (by April 15) for property tax revenue lost due to the senior valuation reduction, paid from the state general fund

Requires the administrator to publish inflation-adjusted values used for assessment calculations for reassessment cycles beginning January 1, 2027 and after