Nonmortgage Property Tax Exemption

Second Regular Session Seventy-fifth General Assembly STATE OF COLORADO INTRODUCED HCR26-1003 LLS NO. R26-0793.01 Jacob Bennington x2371 HOUSE SPONSORSHIP Garcia Sander, SENATE SPONSORSHIP Pelton B. and Kirkmeyer, House Committees Senate Committees Transportation, Housing & Local Government HOUSE CONCURRENT RESOLUTION 26-1003 SUBMITTING TO THE REGISTERED ELECTORS OF THE STATE OF COLORADO AN AMENDMENT TO THE COLORADO CONSTITUTION CONCERNING THE AUTHORIZATION FOR A COUNTY TO ALLOW AN EXEMPTION FROM PROPERTY TAX IMPOSED BY THE COUNTY TO THE OWNER-OCCUPIER OF SINGLE-FAMILY RESIDENTIAL REAL PROPERTY THAT IS OWNED OUTRIGHT BY THE OWNER-OCCUPIER OF THE RESIDENTIAL REAL PROPERTY.

Resolution Summary (Note: This summary applies to this resolution as introduced and does not reflect any amendments that may be subsequently adopted. If this resolution passes third reading in the house of introduction, a resolution summary that applies to the reengrossed version of this resolution will be available at http://leg.colorado.gov/.) Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.

Capital letters or bold & italic numbers indicate new material to be added to existing law. Dashes through the words or numbers indicate deletions from existing law.

If approved by the voters of the state at the 2026 general election, the concurrent resolution authorizes a county to allow an exemption from property tax imposed by the county to the owner-occupier of single-family residential real property owned outright by the owner-occupier without a mortgage.

Be It Resolved by the House of Representatives of the Seventy-fifth General Assembly of the State of Colorado, the Senate concurring herein:

SECTION 1. At the election held on November 3, 2026, the secretary of state shall submit to the registered electors of the state the ballot title set forth in section 2 for the following amendment to the state constitution:

In the constitution of the state of Colorado, add section 3.7 to article X as follows:

Section 3.7. County authority to allow a property tax exemption - residential real property owner-occupiers who own property outright.

FOR PROPERTY TAX YEARS COMMENCING ON OR AFTER JANUARY 1, 2027, 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 IS EXEMPT FROM PROPERTY TAX IMPOSED BY A COUNTY, THE REVENUE FROM WHICH WOULD OTHERWISE BE RETAINED BY THE COUNTY, IF:

(a) PROPERTY;

(b) THE PROPERTY IS A SINGLE-FAMILY RESIDENTIAL REAL THE OWNER-OCCUPIER OWNS THE PROPERTY OUTRIGHT, WITHOUT A MORTGAGE; AND

(c) THE PROPERTY IS LOCATED IN A COUNTY WHOSE BOARD OF COUNTY COMMISSIONERS HAS ADOPTED A RESOLUTION TO ALLOW THE EXEMPTION DESCRIBED IN THIS SECTION.

SECTION 2. Each elector voting at the election may cast a vote either "Yes/For" or "No/Against" on the following ballot title: "Shall there be an amendment to the Colorado constitution concerning the authorization for a county to allow an exemption from property tax imposed by the county to the owner-occupier of single-family residential real property that is owned outright by the owner-occupier of the residential real property?"

SECTION 3. Except as otherwise provided in section 1-40-123, Colorado Revised Statutes, if at least fifty-five percent of the electors voting on the ballot title vote "Yes/For", then the amendment will become part of the state constitution.