Treasury urges funding to preserve property tax deferral program, defends $1.8M CoreLogic contract

Colorado State Treasurer Dave Young told the Joint Budget Committee that the state should continue funding the Property Tax Deferral Program and the technology that runs it, saying the program is “an investment” that returns principal plus interest and primarily serves seniors.

The Treasurer presented comeback budget requests for the Department of the Treasury including two accounting positions and a Treasury operations cash-management position, funding for a centralized debt-management tool, and additional staffing and licensing for the unclaimed-property program known as Great Colorado Payback. On the property tax deferral program, the department seeks continued funding for a contract with CoreLogic to provide a customer portal, e‑recording, maintenance, and a staffed call center; Treasury staff said the current ask for the CoreLogic contract is $1,800,000 annually for FY25–FY26, reduced from a prior request of $2,500,000.

Why it matters: Treasury officials said the program currently administers roughly $21,400,000 in loans to about 1,300 participants and that roughly 80% of beneficiaries are seniors on fixed incomes. “This is not the exemption program. This deferral program means it comes back with interest,” Treasurer Young said. He warned that ending the program would “put senior homeowners at risk” and could increase pressure on the state’s safety net.

What Treasury proposed and the department’s…