Colorado 2026 Regular Session Status: Enacted 6 D cosponsors

SB 116 — Property Tax Modifications

Last action — Governor Signed

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 19, 2026. Enacted.

Signed by Governor Jared Polis (Democratic) on June 02, 2026.

Prognosis

Likely to advance 82% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 7 sponsors

    2 primary, 5 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (6 D).

  • Cleared a recorded vote

    Passed 7 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

In plain language

The bill modifies property tax classifications and exemptions for seniors and businesses.

This legislation ends the special property tax classification for senior residences after 2026 and sets a business personal property tax exemption at $58,000 without inflation adjustments. It aligns administrative requirements with these changes.

What this means for you
  • Families: This change could increase property tax assessments for senior homeowners starting in 2027.
  • Small Business: Businesses will have a set property tax exemption amount, potentially affecting financial planning.

Summary

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.)

Bill Text

What changed in the latest version

247 added · 316 removed

Plain-language change summary

The amendments to SB 116 include new notes about checking the legislative status and history after the bill's approval process, ensuring clarity on its current status. Additionally, the bill modifies the taxation rules for property, specifically targeting benefits for qualifying seniors and changes to how business personal property is taxed. These changes aim to provide better financial relief for seniors and streamline business taxation, which is important for both supporting vulnerable populations and promoting local economic growth.

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Second Regular Session Seventy-fifth General Assembly STATE OF COLORADO REREVISED This Version Includes All Amendments Adopted in the Second House LLS NO.
NOTE:
26-0561.01 Rebecca Bayetti x4348 SENATE BILL 26-116 SENATE SPONSORSHIP Weissman, Coleman, Cutter, Exum, Gonzales J., Jodeh HOUSE SPONSORSHIP Zokaie, e n m 2 E n 2 U U 1 O i 1 H a a Senate Committees House Committees R M Finance Finance r Appropriations Appropriations 3 d A BILL FOR AN ACT d e 2 C ONCERNING THE TAXATION OF PROPERTY , AND , IN CONNECTION S a 2 U U 8 THEREWITH , MODIFYING THE QUALIFIED -SENIOR PRIMARY H g a d M RESIDENCE BENEFIT AND MODIFYING THE TAXATION OF e d BUSINESS PERSONAL PROPERTY .
This bill has been prepared for the signatures of the appropriate legislative officers and the Governor.
2 Bill Summary d e 6 (Note:
To determine whether the Governor has signed the bill or taken other action on it, please consult the legislative status sheet, the legislative history, or the Session Laws.
This summary applies to this bill as introduced and does m 0 T n 2 notreflectanyamendmentsthatmaybesubsequentlyadopted.Ifthisbill N g 7 passes third reading in the house of introduction, a bill summary that E i i S e p applies to the reengrossed version of this bill will be available at R A r http://leg.colorado.gov.) 3 Sections 1, 2, and 3 of the bill give municipalities the authority, upon voter approval, to levya lodging tax up to the same rate and for the i a same purposes allowed to counties to be collected, administered, and e 2 T d 2 A n 4 E d l Shading denotes HOUSE amendment.
SENATE BILL 26-116 BYSENATOR(S)Weissman,Cutter,Exum,GonzalesJ.,Jodeh,Coleman;
Double underlining denotes SENATE amendment.
also REPRESENTATIVE(S) Zokaie.
S d p Capital letters or bold & italic numbers indicate new material to be added to existing law.n A Dashes through the words or numbers indicate deletions from existing law.
C ONCERNING THE TAXATION OF PROPERTY , AND , IN CONNECTION THEREWITH ,MODIFYINGTHEQUALIFIED -SENIORPRIMARYRESIDENCE BENEFIT AND MODIFYING THE TAXATION OF BUSINESS PERSONAL PROPERTY .
m A enforced by the state.
The bill prohibits, commencing on and after January 1, 2027, any municipal tax on lodging or on the business of providing lodging that is not a municipal lodging tax adopted in accordancewiththerequirementsofsection3.Anexistingmunicipaltax on lodging or on the business of providing lodging adopted on or before December31,2026,isallowedtocontinueunderthebill.However,there can be no tax rate increase, expansion of tax base, or material change in uses of the tax revenue absent adoption of a municipal lodging tax that is in accordance with the requirements of section 3.
Section 4 clarifies that, notwithstanding any provision of law to the contrary, in any case in which the income approach is used to determine the actual value of any lodging property, the assessor shall include"netrentalincome"and"resortfeeincome",eachincomeamount capitalized to value at a rate typical within the relevant market in the actual value of the lodging property.
"Net rental income" means the net operating income generated from payments made in connection with the rental of the lodging property, including any unit within or connected to thelodgingproperty,whetherornottheunitisindividuallyandseparately owned,afterthedeductionof expensestypicalintherelevantmarketand excluding any rents remitted to a unit owner for use of the owner's unit.
"Resort fee income" means the net income generated from the collection of any fee or charge, however denominated, by the property, that is retained by the property but does not include any fee or charge amounts that the property remits to any county, city, city and county, special district, or other local government.
Sections 5 and 6 extend the portable qualified-senior primary residence benefit created for property tax years 2025 and 2026 to future property tax years.
Section 7 changes the state property tax exemption for business personal property, commencing on and after January 1, 2027, by setting the exemption threshold for such property at $60,000, without an adjustmentforinflation,andbyeliminatingthereimbursementprovision for property tax losses due to the exemption.
Sections 8 and 9 subject the municipal lodging tax authorized by section 3 to the department of revenue's administrative scope and mandatory electronic filing and payment requirements.
In Colorado Revised Statutes, 39-1-104.6, amend (2)(a),(3)(a),(5)(c),(6)(a), (8)(a), (8)(b)(I),(8)(c),and(8)(d)asfollows:
In Colorado Revised Statutes, 39-1-104.6, amend (2)(a), (3)(a), (5)(c), (6)(a), (8)(a), (8)(b)(I), (8)(c), and (8)(d) as follows:
Qualified-senior primary residence realproperty -2- 116 - valuation for assessment - reimbursement to local governments for reducedvaluation-temporarymechanismforrefundingexcessstate revenues - legislative declaration - definitions.
Qualified-senior primary residence real property - valuation for assessment - reimbursement to local governments for reduced valuation - temporary mechanism for refunding excess state revenues - legislative declaration - definitions.
(a) For property tax years commencing on or after January 1, 2025, BUT BEFORE JANUARY 1, 2027, residential real property that as of theassessmentdateisusedastheprimaryresidenceofanowner-occupier is classified as qualified-senior primaryresidence real property, which is a subclass of residential real property, if:
(a) For propertytax years commencing on or after January1, 2025, BUT BEFORE JANUARY 1, 2027, residential real property that as of the ________ Capital letters or bold & italic numbers indicate new material added to existing law;
dashes through words or numbers indicate deletions from existing law and such material is not part of the act.
assessment date is used as the primary residence of an owner-occupier is classified as qualified-senior primary residence real property, which is a subclass of residential real property, if:
(a) For a property to be classified as qualified-senior primary residence real property, an individual must file with the assessor a completed application no later than July 15 of the first property tax year for which the classification is sought,OUGH JULY 15, 2026.
(a) For a property to be classified as qualified-senior primary residence real property, an individual must file with the assessor a completedapplicationnolaterthanJuly15 of the first propertytaxyearfor which the classification is sought,HROUGH JULY 15,2026.
An application returned bymail is deemed filed on the date it is postmarked.
An application returned by mail is deemed filed on the date it is postmarked.
(c) In accordance with section 25-2-103 (4.7), the administrator shall annually provide to the state registrar of vital statistics of the department of public health and environment a list, by name and social security number, of every individual who had property classified as qualified-senior primary residence real property for the immediately preceding year so that the registrar can provide to the administrator a list of all the individuals on the list who have died.
(c) In accordance with section 25-2-103 (4.7), the administrator shall annually provide to the state registrar of vital statistics of the department of public health and environment a list, by name and social security number, of every individual who had property classified as qualified-senior primary residence real property for the immediately preceding year so thattheregistrarcanprovidetotheadministrator a list of all the individuals on the list who have died.
No later than April 1, 2026, and April 1 of each year thereafterTER THAN APRIL1,2027, the administrator shall forward to the assessor of each county the name and social security number of each deceased individual who had residential real property located within the county that was so classified -3- 116 for the immediately preceding year so that the assessor can change the classification of the property, if necessary.
No later than April 1, 2026, and April 1 of each year thereafter NO LATER THAN A PRIL 1, 2027, the administrator shall forward to the assessor of each county the name and socialsecuritynumberofeachdeceasedindividualwhohadresidentialreal propertylocatedwithinthecountythatwassoclassifiedfortheimmediately preceding year so that the assessor can change the classification of the property, if necessary.
(a) AssoonaspracticableafterJanuary1,2025,andafterJanuary 1of each year thereafterUARY 1,2026,eachcountytreasurershall,at thetreasurer'sdiscretion,mailorelectronicallysendtoeachpersonwhose name appears on the tax list and warrant as an owner of residential real property notice of the qualified-senior primary residence real property classification.
(a) As soon as practicable after January 1, 2025, and after January of each year thereafter ANUARY 1, 2026, each county treasurer shall, at the treasurer's discretion, mail or electronicallysend to each person whose name appears on the tax list and warrant as an owner of residential real property notice of the qualified-senior primary residence real property classification.Thetreasurershallmailorelectronicallysendthenoticeeach year on or before the date on which the treasurer mails the property tax statement for the previous propertytax year pursuant to section 39-10-103.
The treasurer shall mail or electronically send the notice each year on or before the date on which the treasurer mails the property tax statement for the previous property tax year pursuant to section 39-10-103.Theadministratorshallprescribetheformofthenotice,which must include a statement of the eligibility criteria for the primary residence real property and qualified-senior primary residence real property classifications and instructions for obtaining a related application.
Theadministratorshallprescribetheformofthenotice,whichmustinclude a statement of the eligibilitycriteria for the primaryresidence real property PAGE 2-SENATE BILL 26-116 and qualified-senior primary residence real property classifications and instructions for obtaining a related application.
(a) No later than September 10, 2025, and September 10 of each year thereaftNO LATER THAN SEPTEMBER 10,2026, each assessor shall forwardtotheadministratorareportontheresidentialrealpropertyinthe assessor's county that qualifies for classification as qualified-senior primaryresidencerealpropertyforthecurrentpropertytaxyear.Foreach unit of residential real property, the report must include:
(a) No later than September 10, 2025, and September 10 of each year thereafterNO LATER THAN SEPTEMBER 10, 2026, each assessor shall forward to the administrator a report on the residential real property in the assessor'scountythatqualifiesforclassificationasqualified-seniorprimary residence real property for the current property tax year.
(b) (I) The administrator shall examine the reports sent by each assessor pursuant to subsection (8)(a) of this section to ensure that no applicant has applied for a qualified-senior primary residence real property classification without meeting all legal requirements for -4- 116 obtaining the classification.
For each unit of residential real property, the report must include:
No later than November 1, 2025, and November 1 of each year thereafterATER THANN OVEMBER 1,2026, iftheadministratordeterminesthatanapplicanthasappliedformorethan one property to be classified as qualified-senior primary residence real property, the administrator shall provide written notice to the applicant that the applicant has applied for more than one such classification and is therefore not entitled to the classification for any property.
(b) (I) The administrator shall examine the reports sent by each assessor pursuant to subsection (8)(a) of this section to ensure that no applicanthasappliedforaqualified-seniorprimaryresidence real property classification without meeting all legal requirements for obtaining the classification.
If the administrator determines that the applicant and the applicant's spouse have applied for separate properties to be classified as qualified-senior primaryresidence real property, that the classification was applied for in violation of subsection (4) of this section, that the applicant has claimed the classification for residential real property that the applicant does not own and occupy as the applicant's primary residence as required by subsection (2)(a) of this section, or that the applicant is otherwise ineligible for the classification, the administrator shall provide written noticetoanapplicantthattheapplicantisineligibleandthereasonforthe ineligibility.
No later than November 1, 2025, and November 1 of each year thereafterNO LATER THAN N OVEMBER 1, 2026, if the administrator determines that an applicant has applied for more than one property to be classified as qualified-senior primary residence real property, the administratorshallprovidewrittennoticetotheapplicantthattheapplicant has applied for more than one such classification and is therefore not entitledtotheclassificationforanyproperty.Iftheadministratordetermines that the applicant and the applicant's spouse have applied for separate properties to be classified as qualified-senior primary residence real property, that the classification was applied for in violation of subsection (4) of this section, that the applicant has claimed the classification for residential real property that the applicant does not own and occupy as the applicant's primary residence as required by subsection (2)(a) of this section,orthattheapplicantisotherwiseineligiblefortheclassification,the administrator shall provide written notice to an applicant that the applicant isineligibleandthereasonfortheineligibility.Thenoticemustalsoinclude astatementspecifyingthedeadlineandproceduresforprotestingthedenial of the classification or classifications claimed.
The notice must also include a statement specifying the deadline and procedures for protesting the denial of the classification or classifications claimed.
(c) NolaterthanDecember1,2025,andeachDecember1thereafter NOLATERTHAN DECEMBER 1,2026,andafterexaminingthereportssentby each assessor, denying applications for classification of property as qualified-senior primary residence real property, and deciding protests in accordance with subsection (8)(b) of this section, the administrator shall PAGE 3-SENATE BILL 26-116 providewrittennoticetotheassessorofeachcountyinwhichanapplication has been denied because the applicant was ineligible that includes the identity of each denied applicant and the reason for each denial.
(c) No later than December 1, 2025, and each December 1 thereafterO LATER THAN DECEMBER 1, 2026, and after examining the reports sent by each assessor, denying applications for classification of propertyasqualified-seniorprimaryresidencerealproperty,anddeciding protests in accordance with subsection (8)(b) of this section, the administrator shall provide written notice to the assessor of each county in which an application has been denied because the applicant was ineligible that includes the identity of each denied applicant and the -5- 116 reason for each denial.
(d) No later than January 10, 2026, and each January 10 thereafter NO LATER THAN JANUARY 10, 2027, each assessor shall forward to the administrator a partial copyof the taxwarrantfor the assessor's countythat includesonlypropertyforwhichtheassessorhasgrantedanapplicationfor classification as qualified-senior primary residence real property.
(d) NolaterthanJanuary10,2026,andeachJanuary10thereafter NO LATER THAN JANUARY 10, 2027, each assessor shall forward to the administrator a partial copy of the tax warrant for the assessor's county that includes only property for which the assessor has granted an application for classification as qualified-senior primary residence real property.
The administrator shall examine the tax warrants to ensure that no additional classifications of property as qualified-senior primary residence real property have been allowed since the administrator examined the reports previouslyreceived from the assessors and that each assessor has removed from the tax warrant all such classifications that the administrator previously denied.
The administrator shall examine the tax warrants to ensure that no additional classifications of property as qualified-senior primary residence real property have been allowed since the administrator examinedthereportspreviouslyreceivedfromtheassessorsandthateach assessorhasremovedfromthetaxwarrantallsuchclassificationsthatthe administrator previously denied.
No later than January 17, 2026, and no later than each January17thereafterJ ANUARY 17,2027,theadministratorshallnotifyeach assessor and each treasurer of anysuch classifications to be removed from the tax warrant.
No later than January 17, 2026, and no laterthaneachJanuary17thereafterNUARY 17,2027,theadministrator shall notify each assessor and each treasurer of any such classifications to be removed from the tax warrant.
In Colorado Revised Statutes, 39-3-119.5, amend (2)(a)(VII), (2)(a)(VIII), (2)(b)(I)(A), (2)(b)(I)(B), (2)(b)(I)(C), (3)(b), (3)(c)(I), (3)(c)(II), (3)(d), (3)(e), and (3)(g);
In Colorado Revised Statutes, 39-3-119.5, amend (2)(a)(VII), (2)(a)(VIII), (2)(b)(I)(A), (2)(b)(I)(B), (2)(b)(I)(C), (3)(b), (3)(c)(I),(3)(c)(II),(3)(d),(3)(e),and(3)(g);andadd(2)(a)(IX),(2)(b)(III), and (3)(e.5) as follows:
and add (2)(a)(IX), (2)(b)(III), and (3)(e.5) as follows:
Personalproperty-exemption-reimbursementto local governments - legislative declaration - definitions.
Personal property - exemption - reimbursement to local governments - legislative declaration - definitions.
(VII) Seventhousandsevenhundreddollarsforpropertytaxyears commencing on January 1, 2019, and January 1, 2020;
(VII) Seven thousand seven hundred dollars for property tax years commencing on January 1, 2019, and January 1, 2020;
and (VIII) Fifty thousand dollars for property tax years commencing on January 1, 2021, and January 1, 2022;
and (VIII) Fiftythousand dollars for propertytax yearscommencing on January 1, 2021, and January 1, 2022;
-6- 116 (IX) FIFTY-EIGHTTHOUSANDDOLLARSFORPROPERTYTAXYEARS COMMENCING ON OR AFTER ANUARY 1, 2027.
AND (IX) F IFTY-EIGHT THOUSAND DOLLARS FOR PROPERTY TAX YEARS COMMENCING ON OR AFTER JANUARY 1, 2027.
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(b) (I) (A) Beginning with the property tax year commencing on January 1, 2023, BUT BEFORE ANUARY 1, 2027, the amount of the exemption created in subsection (1) of this section shall be adjusted bienniallyto account for inflation since the amount of the exemption last changedpursuanttothissubsection(2).OnorbeforeNovember1,2022, and each even-numbered year thereafter BUT BEFORE 2027, the administrator shall calculate the amount of the exemption for the next two-year cycle using inflation for the prior two calendar years as of the date of the calculation.
(b) (I) (A) Beginning with the property tax year commencing on PAGE 4-SENATE BILL 26-116 January 1, 2023, BUT BEFORE JANUARY 1, 2027, the amount of the exemption created in subsection (1) of this section shall be adjusted biennially to account for inflation since the amount of the exemption last changed pursuant to this subsection (2).
The adjustedexemption shall be rounded upward to the nearest one hundred dollar increment.
On or before November 1, 2022, and each even-numbered year thereafter BUT BEFORE 2027, the administrator shall calculate the amount of the exemption for the next two-yearcycleusinginflationforthepriortwocalendaryearsasofthedate of the calculation.
The administrator shall certify the amount of the exemption for the next two-year cycle and publishtheamountonthewebsitemaintainedbythedivisionof property taxation in the department of local affairs.
The adjusted exemption shall be rounded upward to the nearest one hundred dollar increment.
(B) When calculating the exemption amount under subsection (2)(b)(I)(A)of thissection,theadministratorshalldoanothercalculation inthesamemannerbutstartingfromseventhousandninehundreddollars instead of fiftyFIFTYEIGHT thousand dollars.
The administrator shall certify the amount of the exemption for the next two-year cycle and publish the amountonthewebsitemaintainedbythedivisionofpropertytaxationinthe department of local affairs.
This amount is the alternative exemption amount.
(B) When calculating the exemption amount under subsection (2)(b)(I)(A)ofthissection,theadministratorshalldoanothercalculationin the same manner but starting from seven thousand nine hundred dollars insteadoffiftyFIFTY-EIGHT thousanddollars.Thisamountisthealternative exemption amount.
(C) If, under subsection (3)(f) of this section, the state treasurer notifies the administrator that not all counties have received reimbursement warrants for lost property tax revenue for the amounts specified in subsection (3)(d) of this section, then beginning with the propertytax year commencing on January1thatfollowsthe notification, andforallpropertytaxyearsthereafterUTBEFOREPROPERTYTAXYEAR 2027, the amount of the exemption in subsection (1) of this section is the -7- 116 alternative exemption amount.
(C) If, under subsection (3)(f) of this section, the state treasurer notifiestheadministratorthatnotallcountieshavereceivedreimbursement warrants for lost property tax revenue for the amounts specified in subsection (3)(d) of this section, then beginning with the property tax year commencingonJanuary1thatfollowsthenotification,andforallproperty tax years thereafterUT BEFORE PROPERTY TAX YEAR 2027, the amount of the exemption in subsection (1) of this section is the alternative exemption amount.
ThereaftBUT BEFORE PROPERTY TAX YEAR 2027,thealternativeexemptionisadjustedbienniallytoaccountfor inflationinthesamemannerassetforthinsubsection(2)(b)(I)(A)of this section, and the administrator shall certify the amount of the exemption for the next two-year cycle and publish the amount on the website maintainedbythedivisionofpropertytaxationinthedepartmentoflocal affairs.
Thereafter,BUT BEFORE PROPERTYTAXYEAR 2027,the alternative exemptionisadjustedbienniallytoaccountforinflationinthesamemanner as set forth in subsection (2)(b)(I)(A) of this section, and the administrator shall certify the amount of the exemption for the next two-year cycle and publish the amount on the website maintained by the division of property taxation in the department of local affairs.
(III) HISSUBSECTION (2)(bISREPEALED ,EFFECTIVEJANUARY 1, 2028.
(III) TIS SUBSECTION (2)(b)IS REPEALED ,EFFECTIVE ANUARY 1, 2028.
(3) (b) No later than February 1, 2022, and each February 1 thereafterHROUGH FEBRUARY 1,2027, the administrator shall calculate thepercentageincreaseordecreaseintotalvaluationofbusinesspersonal property in the state over the prior two property tax years.
(3) (b) No later than February 1, 2022, and each February 1 thereafterHROUGH FEBRUARY 1,2027,theadministratorshallcalculatethe percentage increase or decrease in total valuation of business personal propertyinthestateoverthepriortwopropertytaxyears.Theadministrator PAGE 5-SENATE BILL 26-116 shallpublishthepercentageincreaseordecreaseonthewebsitemaintained by the division of property taxation in the department of local affairs.
The administrator shall publish the percentage increase or decrease on the websitemaintainedbythedivisionofpropertytaxationinthedepartment of local affairs.
(c) (I) For the propertytax years commencing on ORAFTER January 1, 2022, and each year thereafter BUT BEFORE JANUARY 1, 2027, each assessor shall calculate an estimate of the aggregate value of exempt business personal property for the county and each local governmental entity located within the county that is equal to the applicable baseline exemption total adjusted by the growth factor for each property tax year commencing on and after January 1, 2022 BUT BEFORE JANUARY 1, 2027.
(c) (I) For the property tax years commencing onR AFTER January1, 2022, and each year thereafterBEFORE JANUARY 1,2027, eachassessorshallcalculateanestimateoftheaggregatevalueofexempt business personal property for the county and each local governmental entity located within the county that is equal to the applicable baseline exemption total adjusted by the growth factor for each property tax year commencingonandafterJanuary1,2022 BUTBEFORE JANUARY 1,2027.
(II) For the propertytax years commencing on OR AFTER January1, 2022,andeachyearthereafter BUTBEFORE JANUARY 1,2027,eachtreasurer shallcalculatethetotalpropertytaxrevenueslostbyalllocalgovernmental entities within the treasurer's county based on the estimate of exempt businesspersonalpropertyamountcalculatedinaccordancewithsubsection (3)(c)(I) of this section.
(II) For the propertytax years commencing onAFTERJanuary 1, 2022, and each year thereafter BEFORE JANUARY 1, 2027, each treasurer shall calculate the total property tax revenues lost by all local governmental entities within the treasurer's countybased on the estimate -8- 116 of exempt business personal property amount calculated in accordance with subsection (3)(c)(I) of this section.
(d) No later than March 1, 2022, and each March 1 thereafter THROUGH M ARCH 1,2027, each treasurer shall report the amount specified in subsection (3)(a)(II) or (3)(c)(II) of this section, as applicable, and the basisfortheamounttotheadministrator,andtheadministratormayrequire a treasurer to provide additional information as necessary to evaluate the amount reported.
(d) No later than March 1, 2022, and each March 1 thereafter THROUGH M ARCH 1, 2027, each treasurer shall report the amount specified in subsection (3)(a)(II) or (3)(c)(II) of this section, as applicable, and the basis for the amount to the administrator, and the administratormayrequireatreasurertoprovideadditionalinformationas necessary to evaluate the amount reported.
(e) No later than April 15, 2022, and April 15 of each year thereafterHROUGH A PRIL15, 2027, the state treasurer shall issue a warrant to be paid upon demand from the general fund to each treasurer that is equal to the amount specified by the administrator for the county under subsection (3)(d) of this section.Eachtreasurer shall distribute the total amount received from the state treasurer to the local governmental entitieswithinthetreasurer'scountyasiftherevenueshadbeenregularly paid as property tax.
(e) NolaterthanApril15,2022,andApril15ofeachyearthereafter THROUGH A PRIL15,2027,thestatetreasurershallissueawarranttobepaid upon demand from the general fund to each treasurer that is equal to the amountspecifiedbytheadministratorforthecountyundersubsection(3)(d) of this section.
When distributing the money, the treasurer shall provide each local governmental entity with a statement of the amount distributed to the local governmental entity that represents the reimbursement received under this subsection (3)(e).
Each treasurer shall distribute the total amount received from the state treasurer to the local governmental entities within the treasurer'scountyasiftherevenueshadbeenregularlypaidaspropertytax.
(e.5) NO LATER THAN APRIL 15, 2028AND A PRIL15 OF EACH YEAR THEREAFTER ,THE STATE TREASURER SHALL ISSUE A WARRANT TO BE PAID UPON DEMAND FROM THE GENERAL FUND TO EACH TREASURER -9- 116 THAT IS EQUAL TO THE AMOUNT SPECIFIED BY THE ADMINISTRATOR FOR THE COUNTY UNDER SUBSECTION (3)(dOF THIS SECTION FOR TH2026 PROPERTY TAX YEAR .
When distributing the money, the treasurer shall provide each local governmental entitywith a statement of the amount distributed to the local governmental entity that represents the reimbursement received under this subsection (3)(e).
ACH TREASURER SHALL DISTRIBUTE THE TOTAL AMOUNT RECEIVED FROM THE STATE TREASURER TO THE LOCAL GOVERNMENTAL ENTITIES WITHIN THE TREASURER S COUNTY AS IF THE REVENUES HAD BEEN REGULARLY PAID AS PROPERTY TAX .
PAGE 6-SENATE BILL 26-116 (e.5) NO LATER THAN A PRIL15,2028, AND APRIL 15OFEACH YEAR THEREAFTER ,THE STATE TREASURER SHALL ISSUE A WARRANT TO BE PAID UPON DEMAND FROM THE GENERAL FUND TO EACH TREASURER THAT IS EQUALTOTHEAMOUNTSPECIFIEDBYTHEADMINISTRATORFORTHECOUNTY UNDER SUBSECTION (3)(d)OF THIS SECTION FOR THE 2026 PROPERTY TAX YEAR .EACH TREASURER SHALLDISTRIBUTE THE TOTALAMOUNT RECEIVED FROM THE STATE TREASURER TO THE LOCAL GOVERNMENTAL ENTITIES WITHIN THE TREASURER S COUNTY AS IF THE REVENUES HAD BEEN REGULARLYPAIDASPROPERTYTAX .W HENDISTRIBUTINGTHE MONEY ,THE TREASURER SHALL PROVIDE EACH LOCAL GOVERNMENTAL ENTITY WITH A STATEMENT OF THE AMOUNT DISTRIBUTED TO THE LOCAL GOVERNMENTAL ENTITY THAT REPRESENTS THE REIMBURSEMENT RECEIVED UNDER THIS SUBSECTION (3)(e.5).
W HEN DISTRIBUTING THE MONEY,THE TREASURER SHALLPROVIDE EACH LOCAL GOVERNMENTAL ENTITY WITH A STATEMENT OF THE AMOUNT DISTRIBUTED TO THE LOCAL GOVERNMENTAL ENTITY THAT REPRESENTS THE REIMBURSEMENT RECEIVED UNDER THIS SUBSECTION(3)(e.5).
(g) (I) This subsection (3) does not apply if the amount of the exemption created in subsection (1) of this section is the alternative exemption amount as required by subsection (2)(b)(I)(C) of this section.
(g) (I) This subsection (3) does not apply if the amount of the exemption created in subsection (1) of this section is the alternative exemption amount as required bysubsection (2)(b)(I)(C) of this section.
(II) THIS SUBSECTION (3)(g)IS REPEALED,EFFECTIVE JANUARY 1, 2028.
(II) TIS SUBSECTION(3)(gIS REPEALE,EFFECTIVEJANUARY 1, 2028.
on the day following the expiration of the ninety-dayperiodafterfinaladjournmentofthegeneralassembly(August 12, 2026, if adjournment sine die is on May 13, 2026);
on the day following the expiration of the ninety-dayperiod after final adjournment of the general assembly (August 12, 2026, if adjournment sine die is on May 13, 2026);
except that, if a referendum petition is filed pursuant to section 1 (3) of article V of the state constitution against this act or an item, section, or part of this act within such period, then the act, item, section, or part will not take effect unless approved by the people at the general election to be held in November 2026 and, in such case, will take effect on the date of the official declaration of the vote thereon by the governor.
except that, if a referendumpetitionisfiledpursuanttosection1(3)ofarticleVofthestate constitution against this act or an item, section, or part of this act within such period, then the act, item, section, or part will not take effect unless PAGE 7-SENATE BILL 26-116 approvedbythepeopleatthegeneralelectiontobeheldinNovember2026 and, in such case, will take effect on the date of the official declaration of the vote thereon by the governor.
-10- 116
____________________________ ____________________________ James Rashad Coleman, Sr.
Julie McCluskie PRESIDENT OF SPEAKER OF THE HOUSE THE SENATE OF REPRESENTATIVES ____________________________ ____________________________ Esther van Mourik Vanessa Reilly SECRETARY OF CHIEF CLERK OF THE HOUSE THE SENATE OF REPRESENTATIVES APPROVED________________________________________ (Date and Time) _________________________________________ Jared S.
Polis GOVERNOR OF THE STATE OF COLORADO PAGE 8-SENATE BILL 26-116
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How this bill changes current law

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AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill modifies provisions related to the taxation of qualified-senior primary residence real property and business personal property in Colorado.

  • 39-1-104.6(2)(a)

    BUT BEFORE JANUARY 1, 2027 → BUT BEFORE JANUARY 1, 2028

    Extends the period for which residential real property may be classified as qualified-senior primary residence real property.

  • 39-1-104.6(3)(a)

    HROUGH JULY 15,2026 → THROUGH JULY 15, 2027

    Extends the deadline for filing an application for the qualified-senior primary residence classification by one year.

  • 39-1-104.6(5)(c)

    NO LATER THAN A PRIL 1, 2027 → NO LATER THAN APRIL 1, 2028

    Extends the deadline for the administrator to forward names of deceased individuals for property classification adjustments.

  • 39-1-104.6(6)(a)

    AND AFTER JANUARY 1 OF EACH YEAR THEREAFTER ANUARY 1, 2026 → AND AFTER JANUARY 1 OF EACH YEAR THEREAFTER JANUARY 1, 2027

    Changes the date from which county treasurers must notify individuals of their property classification status.

  • 39-1-104.6(8)(a)

    AND SEPTEMBER 10 OF EACH YEAR THEREAFTER NO LATER THAN SEPTEMBER 10, 2026 → AND SEPTEMBER 10 OF EACH YEAR THEREAFTER NO LATER THAN SEPTEMBER 10, 2027

    Extends the deadline for assessors to report qualified-senior primary residence properties to the administrator.

  • 39-1-104.6(8)(b)(I)

    AND NOVEMBER 1 OF EACH YEAR THEREAFTER NO LATER THAN NOVEMBER 1, 2026 → AND NOVEMBER 1 OF EACH YEAR THEREAFTER NO LATER THAN NOVEMBER 1, 2027

    Extends the deadline for the administrator to notify applicants about the eligibility regarding multiple classification applications.

  • 39-1-104.6(8)(c)

    AND EACH DECEMBER 1 THEREAFTER NO LATER THAN DECEMBER 1, 2026 → AND EACH DECEMBER 1 THEREAFTER NO LATER THAN DECEMBER 1, 2027

    Extends the timeframe for the administrator to provide notices regarding application denials.

  • 39-1-104.6(8)(d)

    AND EACH JANUARY 10 THEREAFTER NO LATER THAN JANUARY 10, 2027 → AND EACH JANUARY 10 THEREAFTER NO LATER THAN JANUARY 10, 2028

    Extends the requirement for assessors to report to the administrator on classifications granted for qualified-senior primary residence properties.

  • 39-3-119.5(2)(a)(VIII)

    AND → AND

    Adds a new dollar amount for property tax exemptions starting from January 1, 2027.

  • 39-3-119.5(2)(a)

    FIFTY-EIGHT THOUSAND DOLLARS FOR PROPERTY TAX YEARS COMMENCING ON OR AFTER JANUARY 1, 2027. → FIFTY-EIGHT THOUSAND DOLLARS FOR PROPERTY TAX YEARS COMMENCING ON OR AFTER JANUARY 1, 2028.

    Changes the effective date for the Fifty-eight thousand dollar exemption to apply from a future tax year.

Action History

  1. Governor Signed

  2. Signed by the President of the Senate

  3. Signed by the Speaker of the House

  4. Sent to the Governor

  5. House Third Reading Passed - No Amendments

  6. House Third Reading Laid Over Daily - No Amendments

  7. House Committee on Appropriations Refer Unamended to House Committee of the Whole

  8. House Second Reading Special Order - Passed - No Amendments

  9. House Committee on Finance Refer Unamended to Appropriations

  10. Senate Third Reading Passed - No Amendments

  11. Introduced In House - Assigned to Finance

  12. Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole

  13. Senate Second Reading Special Order - Passed with Amendments - Committee

  14. Senate Committee on Finance Refer Amended to Appropriations

  15. Introduced In Senate - Assigned to Finance

Sponsors

Sponsorship breakdown

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2 sponsors · 5 co-sponsors · 94 not signed on · 31 voted No

Sponsors (2)

Co-sponsors (5)

Not signed on (94)

94 members have not signed on to this bill.

Show all 94 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

BILL

Passed 39 Yea · 26 Nay
Party YeaNayPresentNot Voting
Democrat 37400
Republican 01900
Unaffiliated 2300
Total 392600
% of votes cast 60%40%0%0%
How each member voted (65)
Member Party Vote
Gonzalez R. — Nay
Stewart K. — Yea
Stewart R. — Yea
Winter T. — Nay
Garcia Sander — Nay
Alex Valdez Democrat Yea
Amy Paschal Democrat Yea
Andrew Boesenecker Democrat Yea
Bob Marshall Democrat Nay
Brianna Titone Democrat Yea
Cecelia Espenoza Democrat Yea
Chad Clifford Democrat Yea
Eliza Hamrick Democrat Yea
Elizabeth Velasco Democrat Yea
Emily Sirota Democrat Yea
Gretchen Rydin Democrat Yea
Jacque Phillips Democrat Yea
Jamie Jackson Democrat Yea
Javier Mabrey Democrat Yea
Jennifer Bacon Democrat Yea
Jenny Willford Democrat Yea
Julie McCluskie Democrat Yea
Junie Joseph Democrat Yea
Karen McCormick Democrat Yea
Kenny Nguyen Democrat Yea
Kyle Brown Democrat Yea
Lesley Smith Democrat Yea
Lindsay Gilchrist Democrat Yea
Lisa Feret Democrat Yea
Lorena Garcia Democrat Yea
Lori Goldstein Democrat Yea
Mandy Lindsay Democrat Yea
Manny Rutinel Democrat Yea
Matthew Martinez Democrat Yea
Meg Froelich Democrat Yea
Meghan Lukens Democrat Yea
Michael Carter Democrat Yea
Monica Duran Democrat Yea
Naquetta Ricks Democrat Nay
Regina English Democrat Nay
Sean Camacho Democrat Nay
Sheila Lieder Democrat Yea
Steven Woodrow Democrat Yea
Tammy Story Democrat Yea
Tisha Mauro Democrat Yea
Yara Zokaie Democrat Yea
Anthony Hartsook Republican Nay
Ava Flanell Republican Nay
Brandi Bradley Republican Nay
Carlos Barron Republican Nay
Chris Richardson Republican Nay
Dan Woog Republican Nay
Dusty Johnson Republican Nay
Jarvis Caldwell Republican Nay
Ken DeGraaf Republican Nay
Larry Don Suckla Republican Nay
Mary Bradfield Republican Nay
Matt Soper Republican Nay
Max Brooks Republican Nay
Rebecca Keltie Republican Nay
Rick Taggart Republican Nay
Ron Weinberg Republican Nay
Scott Bottoms Republican Nay
Scott Slaugh Republican Nay
Stephanie Luck Republican Nay

Official roll call →

Refer Senate Bill 26-116 to the Committee of the Whole.

Passed 8 Yea · 3 Nay
Party YeaNayPresentNot Voting
Democrat 8000
Republican 0300
Total 8300
% of votes cast 73%27%0%0%
How each member voted (11)
Member Party Vote
Andrew Boesenecker Democrat Yea
Brianna Titone Democrat Yea
Elizabeth Velasco Democrat Yea
Emily Sirota Democrat Yea
Junie Joseph Democrat Yea
Karen McCormick Democrat Yea
Kyle Brown Democrat Yea
Yara Zokaie Democrat Yea
Matt Soper Republican Nay
Rick Taggart Republican Nay
Scott Bottoms Republican Nay

Official roll call →

Refer Senate Bill 26-116 to the Committee on Appropriations.

Passed 6 Yea · 5 Nay
Party YeaNayPresentNot Voting
Republican 0400
Democrat 6100
Total 6500
% of votes cast 55%45%0%0%
How each member voted (11)
Member Party Vote
Bob Marshall Democrat Nay
Brianna Titone Democrat Yea
Lorena Garcia Democrat Yea
Rebekah Stewart Democrat Yea
Sean Camacho Democrat Yea
Steven Woodrow Democrat Yea
Yara Zokaie Democrat Yea
Anthony Hartsook Republican Nay
Matt Soper Republican Nay
Max Brooks Republican Nay
Ryan Gonzalez Republican Nay

Official roll call →

Refer Senate Bill 26-116, as amended, to the Committee on Appropriations.

Passed 6 Yea · 3 Nay
Party YeaNayPresentNot Voting
Republican 0300
Democrat 5000
Unaffiliated 1000
Total 6300
% of votes cast 67%33%0%0%
How each member voted (9)
Member Party Vote
Adrienne Benavidez — Yea
Cathy Kipp Democrat Yea
Chris Kolker Democrat Yea
Janice Marchman Democrat Yea
Kyle Mullica Democrat Yea
Marc Snyder Democrat Yea
Cleave Simpson Republican Nay
Lisa Frizell Republican Nay
Scott Bright Republican Nay

Official roll call →

Subjects

taxation
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Frequently asked questions

What does SB 116 do?
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.)
Who sponsors SB 116?
SB 116 is sponsored by Y. Zokaie, Mike Weissman (Democrat), James Coleman (Democrat), Lisa Cutter (Democrat), Tony Exum (Democrat), Julie Gonzales (Democrat), and Iman Jodeh (Democrat).
What is the current status of SB 116?
This bill has been enacted into law. Introduced February 19, 2026. Enacted.
Where can I track SB 116?
Track SB 116 free on One Click Politics — get push/email alerts when it moves.

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