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Works Better Corporation, a nonpartisan public benefit corporation, builds this site.

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Property Tax Modifications

Concerning the taxation of property, and, in connection therewith, modifying the qualified-senior primary residence benefit and modifying the taxation of business personal property.

SB26-116 2026 Regular Session Signed into Law Fiscal Policy & Taxes

Cost estimates

At the first note read
−$12,300,000
FACT March 10, 2026
At the last note read
$0
FACT September 3, 2026
What it actually cost
not published
No Colorado source reports spending for one bill

Every figure here is an estimate by Legislative Council Staff on the date shown, about the version of the bill in front of them that day. It is not a cost.

The appropriation

The note states no appropriation is required.

An appropriation is money the legislature sets aside. It is not money spent.

The appropriation field, read from the note: No appropriation is required.

Bill summary

     Under current law, residential real property that is classified as qualified-senior primary residence real property is subject to a reduced valuation for assessment for property tax years beginning on or after January 1, 2025, but before January 1, 2027. The act ends the qualified-senior primary residence real property classification for property tax years beginning on or after January 1, 2027, and changes related requirements for county assessors, county treasurers, and the property tax administrator so that the classification and all related administrative and reporting requirements end on dates that align with the end of the reduced valuation for assessment.

     The act changes the state property tax exemption for business personal property, commencing on and after January 1, 2027, by setting the exemption at $58,000, without an adjustment for inflation. The act also sets the reimbursement for property tax losses due to the exemption, for property tax years beginning on and after January 1, 2027, at the reimbursement amount for the 2026 property tax year.

FACT Bill summary by Colorado Legislative Council Staff, read 2026-09-23. Printed as published, word for word. Source: leg.colorado.gov (opens in a new tab)