C.R.S.
Section 39-3.5-112
Election by spouse to continue tax deferral
(1)
Notwithstanding the provisions of section 39-3.5-110, when one of the circumstances listed in section 39-3.5-110 (1)(a) or (1)(c) occurs, the spouse of the taxpayer may elect to continue the property in its tax-deferred status if:(a)
The spouse of the taxpayer is or will be sixty years of age or older when the circumstance occurs; and(b)
The property is the homestead of the spouse of the taxpayer and meets the requirements of section 39-3.5-103 (1)(b) and (1)(c).(1.5)
Intentionally left blank —Ed.(a)
Notwithstanding the provisions of section 39-3.5-110 (1)(a), when a taxpayer who claimed a tax deferral pursuant to this article 3.5 dies, the loan for deferred real property taxes, including accrued interest, shall not become payable if:(I)
The taxpayer was a person called into military service or was a person eligible for deferral under section 39-3.5-102 (1)(c);(II)
The taxpayer is survived by a spouse; and(III)
The property is the homestead of the surviving spouse and meets the requirements of section 39-3.5-103 (1)(b) and (1)(c).(b)
If paragraph (a) of this subsection (1.5) applies, a loan for deferred real property taxes, including accrued interest, shall become payable when the spouse of the taxpayer dies, in addition to the events set forth in section 39-3.5-110.(2)
The election granted under subsection (1) of this section shall be filed in the same manner as a claim for deferral is filed under section 39-3.5-102, not later than ninety days from the date the circumstance occurs. Thereafter, the property shall continue to be treated as tax-deferred property, and the county treasurer and state treasurer shall withdraw any action taken under section 39-3.5-111. When the property has been continued in its tax-deferred status by the spouse of the taxpayer, the spouse may continue the property in its tax-deferred status in subsequent years by filing a claim, as provided in section 39-3.5-104, annually if the property continues to be eligible for tax-deferred status.
Source:
Section 39-3.5-112 — Election by spouse to continue tax deferral, https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-39.pdf (accessed Oct. 20, 2023).
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