TABOR refund amounts announced for 2025, based on income
Just days after announcing there would be TABOR refunds to Colorado residents in 2025, the state has announced how much money each Coloradan household can expect to receive.
DENVER (KDVR) — Just days after announcing there would be TABOR refunds to Colorado residents in 2025, the state has announced how much money each Coloradan household can expect to receive.
TABOR, or the Taxpayer's Bill of Rights, is an amendment to the state constitution that limits how much revenue Colorado governments can retain and requires that Colorado residents vote to approve any tax increases. The overages are refunded to Colorado taxpayers.
In an audit released on Oct. 14, the Colorado Office of the State Auditor said the state has $1.4 billion in excess revenue, which translates into TABOR refunds. This is a fair bit lower than was collected during the 2023 tax year when the state reported it was returning some $3.28 billion to Colorado taxpayers.
There are a few other measures that the Colorado Department of Revenue has in mind for upcoming TABOR refund mechanisms. First, the state is allowing taxpayers who file a 2024 income tax return to automatically receive an income tax reduction from 4.4% to 4.25%.
Second, the state is allowing eligible 2024 full-year residents to claim a sales tax refund if they file a 2024 Colorado Individual Income Tax Return or a 2024 Property Tax/Rent/Heat Rebate Application by Oct. 15, 2025.
How much is Colorado's TABOR refund in 2025?
Here's what the TABOR refund levels look like for 2025, according to the Colorado Department of Revenue's Taxation Division:
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
Sales tax refunds were also implemented during the 2023 tax year refunds, the state reported.
Instead of like previous years, when lawmakers ensured taxpayers would all get the same amount in refunds, Coloradans' TABOR refunds will be based on income. The lower refund amounts are also expected to continue in the next few years, according to a Colorado Legislative Council report. The Colorado Legislative Council serves as a nonpartisan research arm of the General Assembly.
Amounts that will exceed the TABOR cap are anticipated to drop into the millions, so TABOR refunds could drop to under $100 each year.
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