History of TABOR

The Taxpayer's Bill of Rights (TABOR) Amendment was approved by voters in 1992. This amendment to the Constitution of the State of Colorado generally limits the amount of revenue governments in the state can retain and spend. 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 information about TABOR, visit the Legislative Council TABOR web page.

2024 TABOR Refund (refunded in 2025)

The Department of Revenue (DOR) is administering the following allowable 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.