What is the senior tax deferral program?
The senior tax deferral program is offered by the State of Colorado. It allows you to postpone tax payments on your primary residence until you sell your property, or your estate is settled after your death. Interest is applied to the amount you defer. Each year, you can defer either the whole amount of your taxes, or half your taxes. The Boulder County Treasurer’s Office collects the information and sends it to the State of Colorado, which manages the program, determines eligibility, and notifies the county treasurers who has been approved or disapproved.
General requirements
- You must be 65 years old on or before January 1 of the year you defer taxes.
- Taxes can be deferred only for a property which you both own and live in, with the exception that you can defer taxes for your residence if you are unable to live there due to ill health.
- No more than 75% of your property’s value cab be subject to mortgages or deeds of trust (unless your lender agrees to subordinate) and the deferral cannot cause the total liens on the property to exceed 100%.
- If your property is in a trust you must be named the trustee and the beneficiary of the trust.
- If you have a reverse mortgage you likely cannot receive tax deferral (your lender must agree to subordinate).
- The completed application must be returned to the Treasurer’s Office by the date indicated on the form to be accepted.
To receive an application
You can request an application by email at treasurer@bouldercounty.gov or call us. You’ll need to provide the following information to the Treasurer’s Office:
- Your full name.
- If the property is held in a trust, the name of the trust.
- Property address.
- Your date of birth.
- Phone number.
- Name of your mortgage company (if applicable).
- Approximate balance on your mortgage.
- Whether or not you have a reverse mortgage.