C.R.S. § 39-3.5-105 — Listing of tax-deferred property - tax as lien - interest accrual

(1) If eligibility for deferral of homestead property is established as provided in this article 3.5, the county treasurer shall: (a) Enter in the county treasurer's records a notation that the property is tax-deferred; (b) (I) Promptly, upon designation of the property as tax-deferred, issue a certificate of deferral, on a form prescribed by the state treasurer, that includes the name of the taxpayer, the description of the property, the amount of tax deferred, and the year for which the deferral was granted. The county clerk and recorder shall record the certificate in the county records and thereafter send a copy of the certificate to the state treasurer. The county treasurer shall give one copy of the certificate to the assessor and shall retain one copy in the county treasurer's office. (II) Promptly, upon designation of a mobile home as tax-deferred, the owner of the mobile home shall surrender title to the property to the county clerk and recorder. The county clerk and recorder shall, pursuant to the provisions of article 29 of title 38, make application with the department of revenue for issuance of a new certificate of title with a record of the lien of the state treasurer. This procedure shall be followed for each subsequent year that the property is deferred. The county treasurer shall issue a certificate of deferral, on a form prescribed by the state treasurer, that includes the name of the taxpayer, the description of the property, the amount deferred, and the tax year for which the deferral was granted, and shall send such certificate to the state treasurer. The county treasurer shall give one copy of the certificate to the county assessor and shall retain one copy in the county treasurer's office. Upon satisfaction of the lien, the state treasurer shall release the lien from the title. (1.5) Repealed. (2) Notwithstanding the requirements of section 39-1-119 (1), if a person holding escrow funds for the payment of ad valorem taxes receives a copy of the certificate of deferral relating to any tax-deferred property, he shall, no later than thirty days after receiving said certificate, refund to the owner of said property all funds held in escrow for the payment of ad valorem taxes on said property which have been deferred. (3) Until otherwise required by this article, the county treasurer shall, in subsequent years, continue to list the property as tax-deferred in the manner provided in subsection (1) of this section. (4) (a) The lien for deferred taxes and interest shall attach on the date of recordation of the certificate for deferral, shall be junior to any mortgage or deed of trust recorded prior to the date of recording of such certificate, shall have priority over all liens attaching subsequent to the date of recording of such certificate, and shall not be foreclosed except as provided in sections 39-3.5-110 to 39-3.5-112. (b) The lien for deferred taxes and interest for 1978 deferred taxes shall attach on the date of recordation of the certificate of deferral, shall be junior to any mortgage or deed of trust recorded prior to the date of recording of such certificate, shall have priority over all liens attaching subsequent to the date of recording of such certificate, and shall not be foreclosed except as provided in sections 39-3.5-110 to 39-3.5-112. (5) (a) Repealed. (b) On and after May 1, 1999, interest shall accrue on all taxes deferred pursuant to deferrals claimed prior to the 1999 calendar year at the rate of seven percent per annum until the date on which such taxes are paid. Interest shall accrue on all taxes deferred pursuant to deferrals claimed on and after January 1, 1999, but prior to January 1, 2001, at the rate of seven percent per annum, beginning May 1 of the calendar year in which the deferral is claimed, until the date on which such taxes are paid. (c) Interest shall accrue on all taxes deferred pursuant to all deferrals claimed on and after January 1, 2001, at a rate equivalent to the rate per annum on the most recently issued ten-year United States treasury note, rounded to the nearest one-tenth of one percent, as reported by the Wall Street Journal, as of February 1 of the calendar year in which such deferral is claimed. Interest shall accrue on taxes deferred at the rate specified in this paragraph beginning May 1 of the calendar year in which the deferral is claimed until the date on which such taxes are paid. (6) No later than January 1 of each year, the state treasurer shall provide to each county treasurer a list by owner and address of each property in the treasurer's county that is subject to one or more property tax deferral liens pursuant to this article 3.5 and the total amount of the lien or liens on the property as of April 30 of the prior year. Source: L. 78: Entire article added, p. 473, § 1, effective February 28, 1979. L. 79: Entire section R&RE, p. 1412, § 4, effective January 1, 1980. L. 88: (1)(b) amended, p. 1284, § 13, effective January 1, 1989. L. 98: (5) amended, p. 679, § 1, effective August 5. L. 2000: (5)(b) amended and (5)(c) added, p. 905, § 1, effective May 25. L. 2022: (1) amended and (1.5) added, (SB 22-220), ch. 388, p. 2760, § 6, effective June 7. L. 2025: (1) amended, (1.5) repealed, and (6) added, (SB 25-261), ch. 425, p. 2413, § 6, effective July 1. Editor's note: Subsection (5)(a)(II) provided for the repeal of subsection (5)(a), effective May 1, 1999. (See L. 98, p. 679.)