Colorado voters will decide on a constitutional amendment in 2024 that would expand the homestead property tax exemption for veterans with service-related disabilities.
Currently, veterans in Colorado who are rated as 100% permanently disabled qualify for a homestead property tax exemption that exempts 50% of the first $200,000 of a property’s actual value from property taxes.
This amendment would expand the property tax exemption for veterans with a disability to veterans with individual unemployability status beginning in 2025. Individual unemployability status is given to veterans who are unable to remain employed due to having at least one service-connected disability with a rating of 60% or higher or two or more service-connected disabilities with at least one of them being rated at 40% and a combined disability rating of 70%. The amendment was projected to allow an additional 3,400 veterans to claim the property tax exemption who would otherwise be ineligible, according to the Colorado Legislative Council staff.
