🏡 Big News for Colorado Veterans: Amendment G Expands Property Tax Exemptions! 🏡
Colorado voters have spoken! With the approval of Amendment G, more of our honored veterans will now receive critical property tax relief. Here's what you need to know:
What’s Changed?
Previously, veterans with service-connected disabilities rated as 100% permanent and total by the U.S. Department of Veterans Affairs could take advantage of Colorado’s homestead exemption. This exemption allows for 50% off the first $200,000 of a home’s actual value. Now, thanks to Amendment G, the exemption extends to veterans who have been granted “individual unemployability status” by the VA. This status is given to veterans who, despite having a disability rating of less than 100%, are unable to maintain substantially gainful employment due to service-related disabilities.
What Does This Mean for Our Community?
Amendment G has the potential to provide financial relief for an additional 3,400 veterans across Colorado. Supporters of the amendment emphasized that these veterans, unable to work due to their service-related disabilities, deserve tax relief as much as those who previously qualified.
While there are concerns from opponents about the complexity and fairness of administering this exemption, the positive impact for those who have sacrificed for our country cannot be overlooked.
Where to Get More Information
If you or a loved one would like to learn more about this property tax exemption, visit the following resources:
- Colorado Department of Local Affairs
- U.S. Department of Veterans Affairs
- Colorado Division of Veterans Affairs
A Win for Veterans
This extension ensures that more veterans who have given so much for our freedom can find some financial ease. As a community, supporting our heroes is something we can all feel good about.
Thinking about buying or selling a home in Colorado Springs and want to understand how these changes could impact you or your loved ones? Let’s connect! 📲
✨ If you know a veteran who could benefit from this change, please share this post! Your support means everything to our community.
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What are your thoughts on this amendment? Drop a comment below or share to spread the word!
About the Author
Nicole Strom
Nicole is a mom, grandma, a retired military spouse of over 25 years, as well as a full time Real Estate Professional serving her clients in and around Colorado Springs.
You need a REALTOR® with vast experience and knowledge of our specific market. You need a REALTOR® that genuinely cares about you and puts your needs first. You need a REALTOR® you can trust. Nicole is that REALTOR®.
