SB 116: Property Tax Modifications - Colorado

Rerevised → Final Act · 6 edits · May 20, 2026

MODERATE

This bill updates the Qualified-Senior Primary Residence property tax classification by adding strict deadlines for applications and requiring annual data sharing between county assessors and the state to verify eligibility after owner deaths. It also establishes a new administrative review process where the state administrator can deny classifications if applicants own multiple properties or fail to meet occupancy requirements. Additionally, the bill clarifies how lodging properties must be valued for tax purposes by explicitly including net rental and resort fee income.

Scope change

The bill expands the administrative oversight of the primary residence classification program and modifies the valuation rules for lodging properties, while maintaining the core benefit for seniors.

REQUIREMENT

Added a mandatory application deadline of July 15 for the primary residence classification, with specific rules for mail-in filings.

Mandated that county administrators share lists of deceased property owners with vital statistics to ensure the classification is removed upon death.

ENFORCEMENT

Created a new process requiring county assessors to report qualified properties to the state administrator annually for verification.

Authorized the state administrator to deny classifications if an applicant owns more than one property or fails to meet legal eligibility criteria.

TIMELINE

Set specific deadlines for the administrator to notify applicants of denials and for assessors to remove denied classifications from tax warrants.

DEFINITION

Defined 'net rental income' and 'resort fee income' to be included when calculating the actual value of lodging properties for taxation.

Revised → Rerevised · 2 edits · May 11, 2026

MINOR

The bill text was updated from a 'Revised' version to a 'Rerevised' version to reflect all amendments adopted in the Second House. The primary change is the addition of a stamp indicating the bill was passed on the 3rd Reading Unamended on May 11, 2026, confirming its final approval status.

TECHNICAL

Added a header stamp stating the bill was passed on the 3rd Reading Unamended on May 11, 2026.

Updated the version title from 'Revised' to 'Rerevised' and adjusted the subtitle to indicate amendments were adopted in the Second House.

Reengrossed → Revised · 3 edits · May 8, 2026

MINOR

The bill was reclassified from 'Reengrossed' to 'Revised' to reflect amendments adopted during the second reading in the second house. Substantive policy changes include extending the application deadline for the qualified-senior primary residence benefit to July 15, 2026, and adjusting the confidentiality reporting timeline for deceased owners to April 1, 2027.

Scope change

The bill's scope remains focused on property taxation and senior residence benefits, but the applicability dates for filing applications and data reporting have been extended.

TIMELINE

The deadline for filing applications for the qualified-senior primary residence classification was extended to July 15, 2026.

The deadline for the state administrator to forward lists of deceased individuals to county assessors was extended to April 1, 2027.

TECHNICAL

The document header was updated to indicate the bill is 'Revised' rather than 'Reengrossed', reflecting its legislative status.

Engrossed → Reengrossed · 5 edits · Apr 27, 2026

MODERATE

The bill status changed from Engrossed to Reengrossed, indicating it has been reintroduced after amendments. The Senate sponsorship was expanded to include four additional legislators (Coleman, Cutter, Exum, and Gonzales J.), and the House sponsorship list was updated. The bill summary section was updated to reflect that it is now in its 3rd Reading Unamended stage with a new effective date of April 27, 2026, replacing the previous introductory note.

Scope change

The bill's substantive scope and applicability appear unchanged; the modifications are primarily procedural updates reflecting the legislative process stage and expanded co-sponsorship.

TECHNICAL

Added four new Senate co-sponsors: Coleman, Cutter, Exum, and Gonzales J.

Removed the note stating the summary does not reflect subsequent amendments.

Added a new note indicating the bill is in its 3rd Reading Unamended stage.

Changed the bill version header from 'Engrossed' to 'Reengrossed' and updated the sponsor name from Alison Killen to Rebecca Bayetti.

TIMELINE

Updated the bill summary date to April 27, 2026.

Introduced → Engrossed · 5 edits · Apr 24, 2026

MODERATE

The bill was reengrossed to remove the authority for municipalities to levy a lodging tax and replace it with significant modifications to the Qualified-Senior Primary Residence benefit and business personal property taxation. The lodging tax provision was entirely deleted, while new text was added to expand the Qualified-Senior benefit eligibility window and update application deadlines.

Scope change

The bill's scope shifted from authorizing new municipal lodging taxes to focusing exclusively on modifying existing senior property tax exemptions and business property rules.

SCOPE

The authority for municipalities to levy a lodging tax up to six percent was completely removed from the bill.

ELIGIBILITY

The Qualified-Senior Primary Residence benefit was modified to apply to property tax years starting between January 1, 2025, and January 1, 2027.

TIMELINE

The deadline for filing applications for the Qualified-Senior benefit was extended to July 15, 2026, with a specific cutoff date added for the 2026 tax year.

DEFINITION

The definition of 'Sales or use tax' was updated to reference a different statute (39-1-104.6) instead of the previous one, and the Municipal Lodging Tax was removed from this list.

TECHNICAL

New text was inserted regarding confidentiality, requiring the state registrar to share death records with assessors to ensure deceased individuals are removed from the benefit rolls.

Property Tax Modifications

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