Colorado’s TABOR Checks Are About to Get Smaller in Coming Years

If you were a full-time resident in Colorado for 2023, you probably got a check for $800 after filing your state income taxes. I hope you enjoyed that $800 check because you probably won't be seeing that any time soon in the years to come.

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Colorado Taxpayer Bill of Rights is a refund check sent out to qualifying residents based on your tax refund for the state. According to KDVR, those TABOR checks will be much less starting for the tax year of 2024. Not only will the TABOR refund checks be smaller, they will also be income-based. The less money you make, the smaller the TABOR refund check will be.

Smaller TABOR Checks for Colorado Residents in 2025

The refund amount for the 2024 tax year compared to the 2023 tax year is significant at more than 75 percent less. The range for Colorado's TABOR refund checks is said to be $181 to $571 for single-state income tax filers and double for those filing jointly. See the chart below for the expected 2024 TABOR refunds based on income:

TABOR refund checks for the tax year of 2025 are expected to be less than $50 and 2026-27 are expected to be approximately $70. KDVR says the reason for the shrinking TABOR refund checks is that Colorado is expected to have less tax revenue in the years ahead and a slowing in the state's economy.  Colorado's income tax rate is also decreasing and the State of Colorado will be spending additional funds on a tax credit for families.