There's one more thing for Coloradans to look out for when filing taxes this year: TABOR refunds worth $1.7 billion. The money is from the Taxpayer’s Bill of Rights program, which remits excess dollars paid in state revenue to eligible Colorado residents. But you must make the election to receive this tax relief.
This year’s TABOR refund is significantly lower than the prior year’s, which was $3.28 billion. However, Centennial State residents can still expect to receive anywhere from $177 to $1,130 per taxpayer, depending on income and filing status.
Read on for eligibility requirements and how to get a refund. Also, a key aspect of the TABOR calculation will be handled differently this time around.
How to get the Colorado TABOR refund
To receive the 2024 TABOR refund, you must file your state income tax return, meeting the below eligibility requirements:
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- At least 18 years old as of the beginning of the tax year.
- Be a Colorado resident for the entire tax year.
- File a Colorado state income tax return or a property tax, rent, or heat refund.
Then, you must opt-in by checking a box on your state tax return. The TABOR option on your return looks like a checkbox. Select that option or ask your tax preparer to make the election for you. Guided software should also have a box for you to choose from.
In years past, TABOR refunds were sent as a separate payment. But starting last year, things are a bit different. Taxpayers need to opt-in on their state taxes to receive one.
The deadline to file your state taxes is the same as federal guidelines: April 15, 2025 (tax day) or by the extension due date of Oct. 15, 2025.
2024 Colorado TABOR refund: How much is it?
The payout amount depends on your Colorado-modified adjusted gross income. Based on that, the state’s Department of Revenue will issue 2024 TABOR refunds following the below schedule:
| Adjusted gross income | Single filer | Married filing joint filer |
|---|---|---|
| $0 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+ | $565 | $1,130 |
Taxpayers who claimed last year’s TABOR by Oct. 15, 2024, received a larger payout of $800 per individual or $1,600 for those filing jointly. Due to legislative changes (more on that below), the 2026 numbers are predicted to be even lower than last year's and this year's.
How to check Colorado state tax refund status
According to the Colorado Department of Revenue website, income tax refunds can take 7-10 business days after they’re sent out for payment.
To check the status of your refund, you can use the online tool on the state’s website or call (303) 238-7378 if the check or direct deposit has been missing for more than 30 days.
Your 2024 Colorado state income tax will include:
- TABOR payment combined and issued with your normal tax refund, if you meet all other eligibility requirements.
- A drop in the state income tax rate.
However, for the 2026 filing season, Coloradans will see a decline in TABOR payment amounts.
Lower Colorado income tax rate and 2026 TABOR refunds
Thanks to Senate Bill 24-228 signed by Gov. Jared Polis in May, Colorado state income tax rates dropped from 4.40% to 4.25%. This reduction will automatically apply when you file your 2024 state income tax return this filing season.
But amid this good news comes a lower future payout for TABOR.
Last September, the Colorado Legislative Council forecasted 2026 payouts to be just $41 (single file) or $82 (joint filers) across all income levels.
The notable decrease is due to legislation that passed several new and expanded income tax credits and deductions earlier this year. More than $1 billion in 2026 TABOR revenue will support changes in state taxes.
The forecast also predicts that 2027 and 2028 payouts will increase, but not surpass, $150 per filer. Consequently, the 2025 filing season may be the last year Coloradans can enjoy higher TABOR payments for a few years.
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