$750 to $1,500 is on its way to all Colorado taxpayers thanks to state tax rebate | SummitDaily.com

$750 to $1,500 is on its way to all Colorado taxpayers thanks to state tax rebate

If you filed taxes in Colorado, then soon you will pocket at least $750. Joint filers can expect to see $1,500. 

The tax rebates come from the Taxpayer’s Bill of Rights, also known as TABOR, which requires the state to refund excess revenues if it exceeds its constitutional spending limit. This year, Coloradans are receiving these rebates a lot earlier — nearly a year, to be exact — thanks to Senate Bill 22-233 which was passed this legislative season. 

Originally, the rebates were expected to hover around $400 for individuals and $800 for joint filers. According to a release from Gov. Jared Polis’ office, the state’s strong economic performance, its 3.5% unemployment rate and its second in the country for job participation rate are what led to higher rebates.

Individuals have until Thursday, June 30, to file their taxes to receive the rebate this summer. Those that file on extension by Oct. 17 will receive their rebates in January 2023. Those that filed by April 15 do not need to take additional action. The rebates will be mailed to taxpayers. 

To update your address, visit Colorado.gov/Revenueonline or fill out a change of address form and mail it to the Colorado Department of Revenue at P.O. Box 17087, Denver, CO 80217-0087. 

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