Colorado electorate will decide on a constitutional modification in 2024 that may extend the dwelling house property tax exemption for veterans with service-related disabilities.
Currently, veterans in Colorado who’re rated as 100% completely disabled qualify for a dwelling house property tax exemption that exempts 50% of the primary $200,000 of a property’s precise worth from property taxes.
This modification would extend the property tax exemption for veterans with a incapacity to veterans with particular person unemployability standing starting in 2025. Individual unemployability standing is given to veterans who’re not able to stay hired due to having no less than one service-connected incapacity with a score of 60% or upper or two or extra service-connected disabilities with no less than one among them being rated at 40% and a blended incapacity score of 70%. The modification used to be projected to permit an extra 3,400 veterans to declare the property tax exemption who would another way be ineligible, in accordance to the Colorado Legislative Council workforce.
In 2006, electorate licensed a constitutional modification to prolong the property tax exemption that used to be to be had to certified senior electorate to all U.S. army veterans dwelling in Colorado who’re 100% disabled due to a service-related incapacity.
Amendment E, licensed via electorate final yr, prolonged the property tax for veterans with a incapacity to the surviving spouses of army provider individuals who died in the road of accountability and the surviving spouses of veterans who died on account of service-related damage or illness.
To put a legislatively referred constitutional modification earlier than electorate, a two-thirds (66.67%) vote is needed in each the Colorado State Senate and the Colorado House of Representatives. Introduced as House Concurrent Resolution 23-1002, the modification used to be licensed unanimously in each chambers of the state legislature.
To take impact, the modification calls for a 55% vote of approval on the election on Nov. 5, 2024.
New Mexico electorate may also decide in 2024 on two constitutional amendments referring to to property taxes for veterans.
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