DENVER—A proposal to change a property tax exemption for senior citizens and veterans is dead.
The Senate Appropriations Committee voted 6-4 Wednesday to kill Senate Concurrent Resolution 1. It would have barred anyone living in a home worth more than $500,000 from claiming the tax break. However, it would have allowed spouses of disabled veterans to qualify, as well as senior citizens forced to move because of a natural disaster.
Currently, the tax break applies to people age 65 and older and disabled veterans who have lived in their homes for at least 10 years. They don’t have to pay taxes on half of the first $200,000 of their property’s value.
Another proposal that would have allowed seniors and veterans to move to smaller homes was killed last week.
