There is a lot of unpredictability in the economy right now, but the idea of a new stimulus check has gotten a lot of people interested again. There are also strong steps being taken by some states to help their people, even though the federal government has not confirmed any $800 payments for April 2025. Colorado is one of them. Next spring, the state may offer big refunds through the TABOR program.
Taxpayer’s Bill of Rights, or TABOR, has become an important way to give money back to people when the government has a budget surplus. This time, the state plans to give out almost $1.4 billion, which is the extra money from the fiscal year 2024. This is not only good news, but it also gives a lot of families who are still getting over the worst years of the pandemic much-needed relief.
For people filing jointly, payments could add up to $1,600. This is a big amount because the money comes from the state’s budget instead of the government budget. Of course, certain requirements must be met, and everyone who has a stake in the matter should be aware of the new rules.
Who can get their TABOR money back in 2025?
The TABOR scheme no longer gives refunds every year on its own. Now, it’s only turned on when the state surplus is very high, like in 2025. There are two kinds of help available to people in Colorado right now.
Tax cut: For the 2024 tax year, everyone who files their state tax report will get a temporary tax rate cut from 4.40% to 4.25%.
If you lived in Colorado in 2024 and file a state tax return or a PTC (Property/Rent/Heat Tax reward) application by October 15, 2025, you can get this payment as a sales reward.
The amount each person gets will depend on their adjusted gross income and other factors set by the Colorado Department of Revenue. The most that people who file combined can get is $1,600, but people who file separately get less.
To be eligible for the TABOR rebate, you must meet the following three requirements:
- Have lived in Colorado for at least half of the tax year 2024.
- As of January 1, 2025, you must be at least 18 years old.
- For 2024, you must have either filed your state income tax return or asked for a personal tax credit by April 15, 2025.
- The application must be sent through the state Department of Revenue’s official website. You need to fill out the right form, include the right papers, and make sure all the information is correct before you send it.
There is no question that TABOR is one of the most important state-level resources out there right now. It’s not a government cheque, but it does give a lot of people a small income boost that can go a long way.
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