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Colorado · 2026 Regular Session · Bill

SB 116: Property Tax Modifications

Enacted Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

SB 116 is a bill introduced in the Colorado Senate on February 19, 2026. According to its official title, it concerns: Property Tax Modifications. Primary sponsor: Yara Zokaie (Democratic), Mike Weissman (Democratic). It lists 5 additional sponsors. Most recent recorded action (June 2, 2026): Governor Signed.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

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.)

Sponsors

Sponsors by party (alphabetical): Democratic 7

NameRolePartyChamberDistrict
Yara ZokaiePrimary sponsorDemocraticHouse52
Mike WeissmanPrimary sponsorDemocraticSenate28
James ColemanCo-sponsorDemocraticSenate33
Lisa CutterCo-sponsorDemocraticSenate20
Tony ExumCo-sponsorDemocraticSenate11
Julie GonzalesCo-sponsorDemocraticSenate34
Iman JodehCo-sponsorDemocraticSenate29

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

  1. Governor Signed
  2. Signed by the President of the Senate
  3. Signed by the Speaker of the House
  4. Sent to the Governor
  5. House Third Reading Passed - No Amendments
  6. House Third Reading Laid Over Daily - No Amendments
  7. House Committee on Appropriations Refer Unamended to House Committee of the Whole
  8. House Second Reading Special Order - Passed - No Amendments
  9. House Committee on Finance Refer Unamended to Appropriations
  10. Senate Third Reading Passed - No Amendments
  11. Introduced In House - Assigned to Finance
  12. Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole

Showing 12 most recent of 15 actions. Full history

Sources

  1. Open States / Plural (data from the official legislature website)
  2. Official legislature source