How much a Colorado taxpayer is expected to receive for TABOR in 2025

DENVER (KKTV) - Under Colorado's constitution, the state is limited in the amount of revenue governments can retain and spend, meaning the taxpayers can expect to get some money back next year.

On Thursday, the Colorado Department of Revenue announced how much taxpayers should expect to get back in 2025 tied to surplus sales tax refunds. You can view the chart at the bottom of this The Taxpayer's Bill of Rights (TABOR) Amendment was approved by voters in 1992. Absent voter approval, it requires excess revenue to be refunded to taxpayers. TABOR also requires voter approval for certain tax increases. The state TABOR revenue limit is generally equal to the prior fiscal year's limit plus the rate of inflation and population growth in Colorado, subject to a voter-approved floor.for more on TABOR from the state .

Changes were made to TABOR in the 2024 state legislative session,for more on the new law .

The Department of Revenue (DOR) is administering the following 2024 TABOR refund mechanisms:

Tax Rate Reduction — All taxpayers who file a 2024 income tax return will automatically receive the temporary income tax rate reduction from 4.40% to 4.25%.

Sales Tax Refund — Eligible 2024 full-year residents may claim this refund if they file a 2024 Colorado Individual Income Tax Return or a 2024 Property Tax/Rent/Heat (PTC) Rebate Application by October 15, 2025. See the table below for the six refund levels.

Eligible Coloradans who fall in the following adjusted gross income ranges will receive: