FINANCIAL ADVANTAGE
Additional Benefits For Colorado Veterans
Colorado Veterans and military families may qualify for benefits that can make owning a home, paying property taxes, and covering college costs a little easier. From property tax exemptions for disabled Veterans to military family education benefits and VA-backed home loans, Colorado offers several ways to help service members and their families save.
Tax Relief
Property Tax Benefits for Veterans in Colorado
- 100% permanently disabled Veterans can get a break on property taxes. Qualifying Veterans with the required VA disability determination can receive an exemption on 50% of the first $200,000 in actual value of their owner-occupied primary residence. Unlike Colorado's senior exemption, there is no age requirement for the Veteran exemption.
- The benefit can extend to certain surviving spouses. Colorado's property tax program also provides eligibility for qualifying surviving spouses of Veterans with disabilities and certain Gold Star spouses, helping eligible military families retain valuable property tax relief after the service member's death.
Family Tuition Assistance
Education Benefits for Colorado Veterans & Families
- Military families stationed in Colorado can save with in-state tuition. Active-duty U.S. Armed Forces members permanently stationed in Colorado and their qualifying dependents are eligible for in-state tuition status regardless of how long they've lived in the state.
- Veterans and dependents using qualifying VA education benefits may also receive in-state tuition. Colorado classifies qualifying Veterans and dependents who meet the federal definition of a “covered individual” as in-state students while residing in Colorado and attending an eligible institution, potentially avoiding significantly higher nonresident tuition rates.
Home Financing
Home Financing Benefits for Colorado Veterans
- A down payment may not be necessary. Eligible Colorado Veterans can use a VA-backed purchase loan to buy a primary residence, often without a down payment when the sales price doesn't exceed the home's appraised value. VA-backed loans can be used for qualifying single-family homes, condos, manufactured homes and certain multi-unit properties.
- No monthly mortgage insurance means another potential savings. VA-backed home loans don't require monthly private mortgage insurance, and the VA guaranty can help lenders offer Veterans competitive loan terms. Veterans can also reuse their VA home loan benefit when eligibility requirements are met.