Colorado HB1204 clarifies that senior cooperative housing projects qualify for property tax exemptions.

Colorado HB1204 amends state statutes to clarify that senior cooperative housing projects qualify for property tax exemptions. This bill defines a "senior cooperative housing project" as a multi-unit residential building or complex occupied by qualifying seniors, which is owned by a cooperative or cooperative housing corporation. A "qualifying senior" is an individual who is at least 65 years old and of low or middle income. The bill ensures that such projects can benefit from the property tax exemption that applies to affordable rental housing projects.

Colorado HB1204 clarifies that senior cooperative housing projects qualify for property tax exemptions.

Colorado HB1204 amends state statutes to clarify that senior cooperative housing projects qualify for property tax exemptions. This bill defines a "senior cooperative housing project" as a multi-unit residential building or complex occupied by qualifying seniors, which is owned by a cooperative or cooperative housing corporation. A "qualifying senior" is an individual who is at least 65 years old and of low or middle income. The bill ensures that such projects can benefit from the property tax exemption that applies to affordable rental housing projects.