Coloradans who filed their 2021 taxes should soon see checks for tax credits of $750 per person in the mail.
The money comes from taxes collected by the state that exceed the cap set by the Taxpayer Bill of Rights, or TABOR. This provision of the state constitution requires that taxes collected above a ceiling determined by inflation and population be remitted to taxpayers. State economists estimated the state collected more than $3.5 billion over the cap in the fiscal year that ended in June, its largest ever.
How to Qualify for “Colorado Cash Back” TABOR Refund Checks
Colorado residents who filed their state taxes by June 30 will receive their checks by the end of August. At a press conference Wednesday, Gov. Jared Polis estimated that “the vast majority” of Coloradans will receive a check by the end of next week or the week after.
People who file their state tax returns by October 17 will receive their rebate checks in January.
The rebate amounts to $750 for an individual filer or $1,500 for people filing their taxes jointly. Officials estimate that 1 percent to 2 percent of the roughly 2.4 million rebates will be intercepted either in part or in full because of back taxes or things owed like child support.
To receive the checks, residents must file a 2021 state income tax return — even if they have no taxable income to report — or apply for a property tax/rent/heating credit rebate by June 30. To be eligible, one must have been a full-year resident of Colorado for 2021 and turned 18 by December 31, 2021.
Residents with questions about eligibility can visit www.ColoradoCashBack.com or call 303-951-4996 for more information.
These are TABOR refunds, not incentive checks. But that doesn’t mean they are free from politics
While that money was going to come back to taxpayers one way or another, Colorado Democrats take credit for getting it out sooner and in a fairer way.
“Does anybody want the government to sit on your money for 10 months?” Polis asked at a news conference Wednesday. “I don’t think anyone wants that. So let’s bring it back to you now, when you need it.
Polis was joined by three of the state lawmakers who sponsored SB22-233 to make that concession happen: Reps. Lindsey Dougherty and Tony Exum, of Arvada and Colorado Springs, respectively, and Sen. Nick Hinrichsen of Pueblo, all Democrats.
Exum is seeking a state Senate seat this November, while Hinrichsen is seeking election to his seat after being appointed to it following a vacancy. Each faces tight races in what could be a tough year for Democrats after years of trifecta control of each legislative chamber and the governor’s office. Polis is also up for re-election. A note from him is expected to be in the letter that has the rebate checks.
“A lot of people have been asking me questions about TABOR and what it means and they just want us to show them the money,” Exum said. “They don’t really care about the mechanics and whatnot, they just want to see the checks, so that’s what we’re doing here.”
The state GOP, meanwhile, accused Democrats of “downright lying to voters” and using checks from a constitutional provision they criticize “to buy your vote.” Instead, the state GOP suggested that Coloradans donate their rebates to Republican candidates.
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