“The Days of Balancing Colorado’s Budget on the Backs of Seniors Are Over”

McNulty Announces House Will Not Suspend Senior Homestead Property Tax Exemption

DENVER—Recognizing that the state’s budget picture is slowly improving, Speaker of the House Frank McNulty announced to the Colorado Commission on Aging that House Republicans will not support a suspension of the Senior Homestead Property Tax Exemption to balance the budget in 2012. 

“The days of balancing Colorado’s budget on the backs of seniors are over,” said McNulty, R-Highlands Ranch.  “Tough budget times led to the suspension of the senior homestead exemption.  That meant less money for seniors to spend on medicine and food during this economic crisis.  This is money we can now get back to them.” 

In 2000, Colorado voters added the senior homestead tax exemption to the state constitution.  The amendment allows homeowners 65 and over who live in the same primary residence for 10 years to exempt 50 percent of a home’s market value of up to $200,000 from the property tax.

“House Republicans believe that the Greatest Generation has paid their due.  It is time for us to respect our seniors and the will of Colorado voters as our state budget situation slowly improves,” said State Rep. Jon Becker, R-Fort Morgan, who is also a member of the Joint Budget committee. “By not suspending the homestead exemption, seniors who depend on a fixed income will have a little more money in their pockets.   That means a lot during this recession.”  

Today’s announcement comes only a day after McNulty spoke with the American Cancer Society that House Republicans will not vote to divert Amendment 35 dollars from cancer testing and research. 

“In 2012, we will have a responsible budget that reflects the will of the people.  By not diverting cancer screening and research, more children will have health care, and more Coloradans will have access to affordable life saving cancer tests and treatments that they so badly need,” said Rep. Cindy Acree, R-Aurora.

###