Page:Colorado State Constitution (2020).pdf/91

 in the county's abstract for assessment. The board of county commissioners of such county shall impose in the year in which such school payments are made an additional property tax on all taxable property in the county in an amount sufficient to repay, and the board of county commissioners shall repay, the state for the difference between the amount the state actually paid in state equalization payments during such year and what the state would have paid during such year had such state payments been based on the valuation for assessment as determined by the study.

Source: Entire article added, effective August 1, 1876, see L. 1877, p. 58. L. 1879: Entire section amended, p. 31. L. 1891: Entire section amended, p. 89. L. 03: Entire section amended, p. 152. L. 56: Entire section amended, see L. 57, p. 796. L. 82: Entire section amended, p. 691, effective upon proclamation of the Governor, L. 83, p. 1682, December 30, 1982. L. 88: (1)(b) amended, p. 1457, effective upon proclamation of the Governor, L. 89, p. 1662, January 3, 1989. L. 2000: (1)(b) amended, p. 2783, effective upon proclamation of the Governor, L. 2001, p. 2392, December 28, 2000.

Cross references: For provisions concerning property valuation by market approach only, see § 20 (8)(c) of this article and § 39-1-103 (5)(a); for the performance of labor or making improvements upon any lode claim or placer claim or for the payment of an annual claim rental fee, see §§ 30-1-103 (2)(m) and 34-43-114; for property exempt from taxation, see article 3 of title 39; for valuation and assessment of public utilities, see article 4 of title 39; for valuation of real and personal property, see part 1 of article 5 of title 39; for valuation of mines, see article 6 of title 39; for valuation of oil and gas leaseholds and lands, see article 7 of title 39.

Section 3.5.Homestead exemption for qualifying senior citizens and disabled veterans. (1) For property tax years commencing on or after January 1, 2002, fifty percent of the first two hundred thousand dollars of actual value of residential real property, as defined by law, that, as of the assessment date, is owner-occupied and is used as the primary residence of the owner-occupier shall be exempt from property taxation if:

(a) The owner-occupier is sixty-five years of age or older as of the assessment date and has owned and occupied such residential real property as his or her primary residence for the ten years immediately preceding the assessment date;

(b) The owner-occupier is the spouse or surviving spouse of an owner-occupier who previously qualified for a property tax exemption for the same residential real property under paragraph (a) of this subsection (1); or

(c) For property tax years commencing on or after January 1, 2007, only, the owner-occupier, as of the assessment date, is a disabled veteran.

(1.3) An owner-occupier may claim only one exemption per property tax year even if the owner-occupier qualifies for an exemption under both paragraph (c) of subsection (1) of this section and either paragraph (a) or paragraph (b) of subsection (1) of this section.

(1.5) For purposes of this section, "disabled veteran" means an individual who has served on active duty in the United States armed forces, including a member of the Colorado national guard who has been ordered into the active military service of the United States, has been separated therefrom under honorable conditions, and has established a service-connected disability that has been rated by the federal department of veterans affairs as one hundred percent Colorado Revised Statutes 2020