ColoradoSB26-1162026 Regular SessionSenateWALLET

Property Tax Modifications

Sponsored By: Mike Weissman (Democratic), Yara Zokaie (Democratic)

Signed by Governor

Fiscal Policy & Taxes

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 1 costs, 1 mixed.

Business property tax exemption stops inflation increases

Beginning January 1, 2027, the law sets a fixed business personal property tax exemption and ends inflation adjustments. The detailed provision lists $58,000 per business, but the bill summary lists $60,000; the supplied materials conflict. The exemption shields business property from tax, but its amount no longer rises with inflation. Tax savings depend on the business’s taxable property and tax rate.

Annual state payments replace local tax revenue

The state must send counties reimbursement payments by April 15, 2028, then on April 15 each year thereafter. Each county’s payment uses the statutory calculation for the 2026 property tax year. Money comes from the state General Fund to replace revenue lost to the business personal property exemption. County treasurers must distribute it to local governments as property tax revenue. The supplied provision gives no payment amounts and creates no direct household payment.

Time limits for senior home tax classification

The qualified-senior home tax classification applies only to the 2025 and 2026 property tax years. The home must be the owner-occupier’s primary residence on the assessment date. Owners must apply by July 15 of the first year sought, no later than July 15, 2026. The supplied provision does not state the amount of tax savings.

Sponsors & Cosponsors

Cosponsors

Iman Jodeh
Democratic • Senate
James Coleman
Democratic • Senate
Julie Gonzales
Democratic • Senate
Lisa Cutter
Democratic • Senate
Tony Exum
Democratic • Senate

Roll Call Votes

All Roll Calls

Yes: 86 • No: 51

House vote • 5/11/2026

Third reading: Bill

Yes: 39 • No: 26

House vote • 5/8/2026

Refer Senate Bill 26-116 to the Committee of the Whole.

Yes: 8 • No: 3

House vote • 5/7/2026

Refer Senate Bill 26-116 to the Committee on Appropriations.

Yes: 6 • No: 5

Senate vote • 4/27/2026

Third reading: Bill

Yes: 23 • No: 11

Senate vote • 4/24/2026

Refer Senate Bill 26-116, as amended, to the Committee of the Whole.

Yes: 4 • No: 3

Senate vote • 4/14/2026

Refer Senate Bill 26-116, as amended, to the Committee on Appropriations.

Yes: 6 • No: 3

Actions Timeline

Governor Signed
6/2/2026House
Signed by the President of the Senate
5/21/2026Senate
Signed by the Speaker of the House
5/21/2026House
Sent to the Governor
5/21/2026House
House Third Reading Passed - No Amendments
5/11/2026House
House Third Reading Laid Over Daily - No Amendments
5/9/2026House
House Committee on Appropriations Refer Unamended to House Committee of the Whole
5/8/2026House
House Second Reading Special Order - Passed - No Amendments
5/8/2026House
House Committee on Finance Refer Unamended to Appropriations
5/7/2026House
Senate Third Reading Passed - No Amendments
4/27/2026Senate
Introduced In House - Assigned to Finance
4/27/2026House
Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole
4/24/2026Senate
Senate Second Reading Special Order - Passed with Amendments - Committee
4/24/2026Senate
Senate Committee on Finance Refer Amended to Appropriations
4/14/2026Senate
Introduced In Senate - Assigned to Finance
2/19/2026Senate

Bill Text

Engrossed
PDF
Final Act
PDF
Introduced
PDF
Reengrossed
PDF
Rerevised
PDF
Revised
PDF
Senate Appropriations Preamend
PDF
Senate Finance Preamend
PDF
Signed Act
PDF

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