Nov 12, 2024
DENVER (KDVR) — In two months, Colorado will start to roll out another round of TABOR checks for 2025. However, not everyone will get their checks at the same time. The refunds stem from the Colorado Taxpayer’s Bill of Rights law, which caps state revenue and requires the excess to be returned to taxpayers. In short, it's when the state takes in tax revenue beyond the limit and refunds it back. From $800 to $200: TABOR checks expected to shrink over next few years Because these refunds are based on Colorado taxes, when you receive your TABOR check depends on when you file state income taxes, according to Daniel Carr from the Colorado Department of Revenue. When will you get your next TABOR refund? State income taxes can usually be filed starting mid-to-late-January, but even if you file your taxes right away, you won't get the refund for a few weeks. Carr said the refund still needs to be processed and sent out. The time it takes to get sent out depends on whether you have the refund deposited electronically or mailed. An electronic deposit takes around two weeks, while a physical check can take longer. The deadline to file your return is April 15, 2025. Depending on when your taxes are filed, you’ll get the check at some point in the spring. How much Coloradans will get from TABOR Last tax season, Coloradans received over $800 in refunds. However, the 2025 tax season is expected to return much less. Coloradans will get a TABOR refund for 2024: New audit The refund amount is set to range from $181 to $571 for single filers and doubles for joint filers, according to projections reported by the Colorado Legislative Council. The refunds are expected to continually decrease year-over-year. The council said this is partially because of a softening economy. It also said the income tax rate is decreasing and the state will be spending more money on a tax credit for families.
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