Property Tax Modifications
| Type | Bill |
|---|---|
| Session | 2026 Regular Session |
| Subjects |
Concerning the taxation of property, and, in connection therewith, modifying the qualified-senior primary residence benefit and modifying the taxation of business personal property.
Bill Summary:
Under current law, residential real property that is classified as qualified-senior primary residence real property is subject to a reduced valuation for assessment for property tax years beginning on or after January 1, 2025, but before January 1, 2027. The act ends the qualified-senior primary residence real property classification for property tax years beginning on or after January 1, 2027, and changes related requirements for county assessors, county treasurers, and the property tax administrator so that the classification and all related administrative and reporting requirements end on dates that align with the end of the reduced valuation for assessment.
The act changes the state property tax exemption for business personal property, commencing on and after January 1, 2027, by setting the exemption at $58,000, without an adjustment for inflation. The act also sets the reimbursement for property tax losses due to the exemption, for property tax years beginning on and after January 1, 2027, at the reimbursement amount for the 2026 property tax year.
(Note: This summary applies to this bill as enacted.)
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Related Documents & Information
| Activity | Vote | Documents |
|---|---|---|
| Refer Senate Bill 26-116 to the Committee of the Whole. | The motion passed on a vote of 8-3. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer Senate Bill 26-116 to the Committee on Appropriations. | The motion passed on a vote of 6-5. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.007 | The motion passed without objection. | Vote summary |
| Refer Senate Bill 26-116, as amended, to the Committee of the Whole. | The motion passed on a vote of 4-3. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.005 (Attachment B) | The motion passed without objection. | Vote summary |
| Refer Senate Bill 26-116, as amended, to the Committee on Appropriations. | The motion passed on a vote of 6-3. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 05/11/2026 | Third Reading | BILL |
39
AYE
26
NO
0
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 04/27/2026 | Third Reading | BILL |
23
AYE
11
NO
1
OTHER
|
Vote record |
| Date | Location | Action |
|---|---|---|
| 06/02/2026 | Governor | Governor Signed |
| 05/21/2026 | Governor | Sent to the Governor |
| 05/21/2026 | House | Signed by the Speaker of the House |
| 05/21/2026 | Senate | Signed by the President of the Senate |
| 05/11/2026 | House | House Third Reading Passed - No Amendments |
| 05/09/2026 | House | House Third Reading Laid Over Daily - No Amendments |
| 05/08/2026 | House | House Second Reading Special Order - Passed - No Amendments |
| 05/08/2026 | House | House Committee on Appropriations Refer Unamended to House Committee of the Whole |
| 05/07/2026 | House | House Committee on Finance Refer Unamended to Appropriations |
| 04/27/2026 | House | Introduced In House - Assigned to Finance |
| 04/27/2026 | Senate | Senate Third Reading Passed - No Amendments |
| 04/24/2026 | Senate | Senate Second Reading Special Order - Passed with Amendments - Committee |
| 04/24/2026 | Senate | Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole |
| 04/14/2026 | Senate | Senate Committee on Finance Refer Amended to Appropriations |
| 02/19/2026 | Senate | Introduced In Senate - Assigned to Finance |
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