Are you an older adult or the surviving spouse of a previously eligible older adult living in Wheat Ridge, Colorado? If so, you may be eligible for a property tax exemption that can reduce the amount of taxes you pay on your primary residence. This exemption is available to those who have occupied their residence for at least 10 consecutive years. The exemption does not lower your tax rate, but it does lower the taxable value of your property. This means that you will pay taxes on a reduced amount, not a reduced percentage.
In addition to the senior tax exemption, there are other options available to help cover expenses for older people in Wheat Ridge. Medicare Part A covers hospice (palliative care) for those who are actively dying, regardless of their income. Long-term care insurance can also help pay for care in older people's communities and can offer care options that may not be covered by federal Medicare and Medicaid subsidies. If Proposition HH is approved, local governments such as Jefferson County and the city of Wheat Ridge will receive a refund of 65 to 100% of what they should receive in property taxes without Proposition HH. MorningStar of Wheat Ridge is a unique community for older people that offers its own mission statement: “to honor, value, and invest”.To be eligible for the senior tax exemption in Wheat Ridge, Colorado, you must be an eligible older adult or the surviving spouse of a previously eligible older adult.
If you meet these criteria and have occupied your primary residence for at least 10 consecutive years, you may be able to take advantage of this valuable tax exemption.