As lawmakers sew up the last of the $800 million hole in next year’s budget, some are searching for ways to save a property-tax exemption for 154,000 Colorado seniors and pointing constituents to other programs.
House lawmakers Thursday gave initial approval for the plan to suspend the exemption for two years and save the state $91 million.
House Majority Leader Paul Weissmann said there may be a way to offer a lesser benefit to seniors — giving them a rebate on the first $50,000 of their home value rather than the first $200,000 — if lawmakers can scrounge up another $26 million.
Nobody is certain where that money would come from, though some are exploring suspending conservation easement tax credits, he said.
“We know some seniors are not going to be able to absorb this,” said Weissmann, D-Louisville.
An amendment by Colorado Springs Republican Rep. Bob Gardner to trim up to 1.2 percent from the statewide budget to keep the senior exemption failed amid contentious debate.
“What do we do? We go straight for the folks with fixed incomes,” Gardner said.
In the meantime, lawmakers are spreading the word that Coloradans who are 65 or older, disabled or a widow who is at least 58 years old can defer their property taxes until their homes are sold and qualify for assistance paying heating bills.
Jessica Fender: 303-954-1244 or jfender@denverpost.com
