LAKEWOOD, Thursday October 17, 2024 -- The Colorado Department of Revenue today announced how much eligible Coloradans can expect to receive in TABOR surplus sales tax refunds in 2025.
Eligible Coloradans who fall in the following adjusted gross income ranges will receive:
| Adjusted gross income ranges | Single filer | Joint filer |
|---|---|---|
| Incomes up to $53,000 | $177 | $354 |
| $53,001 to $105,000 | $240 | $480 |
| $105,001 to $166,000 | $277 | $554 |
| $166,001 to $233,000 | $323 | $646 |
| $233,001 to $302,000 | $350 | $700 |
| $302,001 and up | $565 | $1,130 |
About 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, please visit Tax.Colorado.gov/TABOR.