Updated Oct. 22, 2024 at 10:19 a.m.
The Colorado Department of Revenue released projections Thursday for how much eligible Coloradans can expect to get from TABOR surplus sales tax refunds in 2025. TABOR refunds are different than stimulus payments, and Coloradans will not be receiving stimulus checks in 2024.
TABOR numbers follow a report published in September by the state auditor which shows an excess revenue of roughly $1.4 billion this fiscal year. That number combined with last year’s excess, due in part to the state underpaying refunds, brings the total closer to $1.7 billion. That amount triggers the temporary reduction of the income tax rate, from 4.4 percent to 4.25 percent.
Additionally, eligible Coloradans — people over 18 years old who were residents of the state for all of last year — will receive direct refund checks. Those will be paid on a sliding scale, with people who paid more income taxes getting more back.
| 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 |
However, this could be the last boost in TABOR refunds Colorado sees for a while. Earlier this year, lawmakers approved an income tax rate cut for 2026 and 2027 and a large new tax credit for families. Both policies will cut into the amount of money available for refunds in coming years.
