Colorado Code § 39-3-131

Entire property becomes tax-exempt. Whenever any property which was
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previously taxable becomes exempt from the levy and collection of property tax, the treasurer
shall accept payment of property taxes levied on such property for the current taxable year. The
amount of such property taxes shall be calculated on the basis of the property tax levy on such
property in the preceding taxable year and prorated to the date upon which title to such property
was conveyed.

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