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.
Official status: Became Law
Prime sponsors
- Mike Weissman (Senate) — Prime Sponsor
- Yara Zokaie (House) — Prime Sponsor
Progress (from the official record)
Official summary
Official text — shown in English exactly as published by the official source. The official text controls.
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. (Note: This summary applies to this bill as enacted.)
Status timeline
| Date | Location | Action |
|---|---|---|
| 02/19/2026 | Senate | Introduced In Senate - Assigned to Finance |
| 04/14/2026 | Senate | Senate Committee on Finance Refer Amended to Appropriations |
| 04/24/2026 | Senate | Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole |
| 04/24/2026 | Senate | Senate Second Reading Special Order - Passed with Amendments - Committee |
| 04/27/2026 | Senate | Senate Third Reading Passed - No Amendments |
| 04/27/2026 | House | Introduced In House - Assigned to Finance |
| 05/07/2026 | House | House Committee on Finance Refer Unamended to Appropriations |
| 05/08/2026 | House | House Committee on Appropriations Refer Unamended to House Committee of the Whole |
| 05/08/2026 | House | House Second Reading Special Order - Passed - No Amendments |
| 05/09/2026 | House | House Third Reading Laid Over Daily - No Amendments |
| 05/11/2026 | House | House Third Reading Passed - No Amendments |
| 05/21/2026 | Senate | Signed by the President of the Senate |
| 05/21/2026 | House | Signed by the Speaker of the House |
| 05/21/2026 | Governor | Sent to the Governor |
| 06/02/2026 | Governor | Governor Signed |
Recorded votes
- 05/08/2026 — House Appropriations: “Refer Senate Bill 26-116 to the Committee of the Whole.” — the motion passed on a vote of 8–3.
- 05/07/2026 — House Finance: “Refer Senate Bill 26-116 to the Committee on Appropriations.” — the motion passed on a vote of 6–5.
- 04/24/2026 — Senate Appropriations: “Refer Senate Bill 26-116, as amended, to the Committee of the Whole.” — the motion passed on a vote of 4–3.
- 04/14/2026 — Senate Finance: “Refer Senate Bill 26-116, as amended, to the Committee on Appropriations.” — the motion passed on a vote of 6–3.
Proposed amendments (2 proposed amendments)
| Amendment | Committee / floor hearing | Offered | Disposition | Official document |
|---|---|---|---|---|
| L.005 | Committee amendment — Finance (Senate) | 04/14/2026 | Passed | View official document |
| L.007 | Committee amendment — Appropriations (Senate) | 04/24/2026 | Passed | View official document |
Source: Colorado General Assembly (leg.colorado.gov) · Data as of
Full text
- Signed Act version (official PDF), 06/03/2026
- Final Act version (official PDF), 05/20/2026
- Rerevised version (official PDF), 05/11/2026
- Revised version (official PDF), 05/08/2026
- Reengrossed version (official PDF), 04/27/2026
- Engrossed version (official PDF), 04/24/2026
- Introduced version (official PDF), 02/19/2026
Official record
View SB26-116 on leg.colorado.gov
Source: Colorado General Assembly (leg.colorado.gov) · Data as of
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