TABOR refunds of $750 are on the way, starting in August.
Coloradans who filed income taxes and lived in the state for all of 2021 can expect to receive a $750 check in the mail, thanks to excess tax revenue and a May 2022 law pushing up the typical date of refunds, according to the Colorado Department of Revenue.
“Colorado Cash Back,” this year’s Taxpayer Bill of Rights — or TABOR — refunds, will reach eligible residents by the end of September rather than in the spring, after Gov. Jared Polis pushed for a law that temporarily issues the refunds earlier. The law also makes the refunds a flat amount for all recipients, Colorado Public Radio reported. With rising inflation and other economic challenges, Polis thought it important to get Coloradans that money before the end of 2022, according to CPR.
The state estimates that 3.7 million people are eligible to get a refund. This includes residents who were at least 18 years old on Dec. 31, 2021 and filed their 2021 state income tax return on or before June 30, or qualify for the state’s Property Tax/Rent/Heat Credit Rebate for the 2021 grant year by June 30, according to the DOR’s Colorado Cash Back webpage.
Only “full-year” residents during 2021 qualify for the refund, which means people who moved to Colorado in 2022 or only spent part of 2021 living permanently in the state are not eligible, according to the department.
Individual eligible tax filers will receive $750 checks and joint filers will receive $1,500, DOR said. More information about who qualifies and how to make sure residents get checks can be found here.