Summit County seniors eligible for property tax exemption
Summit County seniors seeking a property-tax reduction should submit their requests to the assessor’s office by July 15. Seniors ages 65 and older, who have lived in their current property as a primary home for at least 10 years, are eligible for a significant cut that would exempt $100,000 from a property’s base value for taxes.
For example, a homeowner in Frisco would save $390, based on the current property tax rate of 39 mills. The higher the rate, the larger the reduction.
“I want these seniors to come apply and take advantage,” said county assessor Beverly Breakstone. “Because if the state gives us something like this, we should take advantage.”
Last year, 513 seniors participated in the program. Deputy assessor Denise Steiskal said this year 47 seniors were added for exemptions in 2016.
The program, which started in 2002, is funded by the state. However, the program was cut during the recession, from 2004 to 2011, before Colorado started funding it again.
“The Treasury Department here gets a check from the state every year to pay for those exemptions,” said Bill Wallace, county treasurer. “I wouldn’t go on a golf outing because that’s what I saved on taxes. But I think for some seniors, such as those living on Social Security, it would make a difference to them.”
Steiskal said that since the assessor’s office does not collect birth dates, they cannot specifically notify seniors. However, the office does publish information on the back of tax notices every year.
To apply, seniors can either go directly to the Assessor’s office for a form or find it on Summit County’s website, at http://www.co.summit.co.us under the “Assessor” drop-down list.
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