I spoke today at the legislature in favor of HB25-1156 – Allows seniors to port their senior exemption to a new property if they move/downsize (makes the option a permanent option for seniors). passed the committee 12-0. Below are my comments to the House Finance Committee:
Bill Text: https://leg.colorado.gov/bills/hb25-1156
“Good afternoon,
My name is Jerry DiTullio and I am the elected Jefferson County Treasurer and Public Trustee. I would like to thank Representative Leider and Senator Kolker for bringing this bill forward. I support the bill 100%. Every property tax season my department sees the results of the massive property tax increases that took place over the last two years on seniors, families and small businesses.
The property tax reductions the legislature made to lower property taxes is temporary and we will see property taxes rise again next year. The reductions thew legislature made did not lower property taxes they just lowered the percent increase.
This bill will help seniors be able to move and down-size without losing their senior exemption if they sell and purchase another property. Fiscally, there should not be an increase in the state’s backfill since the senior exemption is already in place for that senior. Logically, if the senior purchases a less expensive property, the senior exemption would be less because the property’s assessed value is less.
HB25-1156 will support 41,332 seniors in Jefferson County with their property tax payments and is a essential change which will help seniors from being held hostage in their current residence and free up their property for potential new buyers. I urge the House Finance Committee to vote yes on this bill and move it forward. Thank you.”
