C.R.S. § 39-3.5-110 — Events requiring repayment of loans - notice to state treasurer

(1) All loans for deferred real property taxes, including accrued interest, shall become payable subject to sections 39-3.5-111 and 39-3.5-112 when: (a) The taxpayer who claimed the tax deferral dies; (b) The property on which the taxes were deferred is sold or becomes subject to a contract of sale, or title to the property is transferred to someone other than the taxpayer who claimed the tax deferral; (c) The property is no longer the homestead of the taxpayer who claimed the deferral, except in the case of a taxpayer required to be absent from such tax-deferred property by reason of ill health or because the property is uninhabitable as a result of natural causes; (d) The tax-deferred property no longer meets the requirement of section 39-3.5-103 (1)(c); (d.5) The tax-deferred property no longer meets the requirement of section 39-3.5-103 (1)(f), except in the case of a property whose value has decreased as a result of natural causes; and (e) The location of the tax-deferred mobile home has changed either within the county or to another county. (1.5) The exceptions related to natural causes set forth in subsections (1)(c) and (1)(d.5) of this section apply for three years from the date of the natural cause or until the date that the property is no longer valued as vacant residential land, whichever date is sooner. (2) When the assessor or treasurer has reason to believe any of the circumstances enumerated in this section has occurred, he shall promptly notify the state treasurer. Source: L. 78: Entire article added, p. 475, § 1, effective February 28, 1979. L. 79: (1)(d) amended, p. 1413, § 6, effective January 1, 1980. L. 88: (1)(d) amended and (1)(e) added, p. 1285, § 15, effective January 1, 1989. L. 2002: IP(1) amended, p. 638, § 4, effective July 1. L. 2022: (1)(c) and (1)(d) amended and (1)(d.5) and (1.5) added, (SB 22-220), ch. 388, p. 2762, § 12, effective June 7.