TABOR Program Payment: Residents of Colorado who file their tax returns can expect a refund check if the state collects more tax revenue than allowed by the Taxpayer’s Bill of Rights (TABOR). Eligible residents can receive up to $1,130 annually in rebate payments, with the potential for an additional TABOR rebate of up to $1,600.
For full-year 2023 residents, the rebate amount is $800 for one qualified taxpayer or $1,600 for two qualified taxpayers filing jointly. To claim this rebate, residents must file their tax return by the appropriate deadline.
When Will the $996 Stimulus Payment for Energy Costs Be Made?
When will the TABOR program payment be made?
The TABOR program redistributes excess state funds among Colorado taxpayers, and by 2025, there will be three mechanisms to refund surpluses.
According to a report from Post Independent, Colorado taxpayers will see the state’s excess income tax refund for fiscal year 2024, totaling nearly $1.4 million, distributed in the spring of 2025. The refund will be based on adjusted gross income, with the following methods administered by the Colorado Department of Revenue (DOR):
- Reduction of the Tax Rate: All taxpayers filing a 2024 income tax return will automatically receive a temporary reduction in the income tax rate, which will decrease from 4.40% to 4.25%.
- Sales Tax Refund: Full-year 2024 residents are eligible to claim a sales tax refund if they file either a 2024 Colorado Individual Income Tax Return or a 2024 Property Tax/Rent/Heat (PTC) Rebate Application by October 15, 2025. The refund will be distributed in six tiers based on the amount of the refund.
Income limit
- Maximum income of $53,000: $177 individual – $354 joint
- $53,001 to $107,000: $241 individual – $482 joint
- $107,001 to $172,000: $240 individual – $480 joint
- $172,001 to $243,000: $277 individual – $554 joint
- $243,001 to $320,000: $350 individual – $700 joint
- $320,001 or more: $565 individual – $1,130 sets
$1312 Stimulus Check: How Will You Receive This Week’s Payment?
Are you eligible? Find out
To apply for the TABOR refund in Colorado, you need to visit the Colorado Department of Revenue website, where you can access the required form. Complete the form with the necessary information, attach any required documents, and make sure all details are accurate before submitting it.
To be eligible for the 2025 TABOR refund, individuals must file a Colorado tax return for 2024 or apply for a personal tax credit by April 15, 2025. Additionally, applicants must have lived in Colorado for at least half of the 2024 tax year and be 18 years of age or older by January 1, 2025.
