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Colorado Tax Rebate: At Least $1,000 Worth of Property Tax Rebate Due in 5 Days

Colorado Tax Rebate
This is a representation photo showing a ten key accounting calculator on yellow desk as several residents in Colorado residents a few days left to apply for a tax rebate. (Photo by Stellar Web via Unsplash)

Residents in Colorado have until March 11 to claim at least $1,000 worth of property tax rebate. The rebate is available to homeowners who paid property tax in 2021 and meet the eligibility requirements.

The Property Tax, Rent, and Heat Refund tax rebate will provide older individuals and people with disabilities in Colorado with a reimbursement to assist them in covering any heating costs they may incur this year. According to Colorado’s Department of Revenue, a candidate’s yearly rebate can be up to $1,044 each year. Any candidates who apply in 2023 might earn up to a $1,000 refundable tax credit.

Colorado Tax Rebate

This is a representation photo showing a woman writing down something on a notepad as several residents in Colorado residents a few days left to apply for a tax rebate. (Photo by Centre for Ageing Better via Unsplash)

Depending on how they are paid and when they file, beneficiaries will get their rebate payments on a certain date. Applications received, accepted, and processed by March 10 will result in payments being sent on April 5 through direct deposit, on April 15 via paper check, and then every three months after that. Payments will be provided later in the year for individuals who submit beyond the deadline of March 10.

ALSO READ: 450,000 Pennsylvanians Qualified To Receive Up To $650 Property Tax And Rent Rebate

Colorado Property Tax Rebate: Who is Qualified?

To be eligible for this tax rebate, The Washington Examiner said a candidate must have spent all of 2022 in Colorado, have paid 2022 property taxes, rent, or heating costs, and not have been reported as a dependent on another person’s federal income tax return. 

Also, a candidate must have met one of the following requirements by December 31 of the previous year: they must be 65 or older, have a surviving spouse who is 58 or older, or be handicapped. 

In order to qualify for this tax rebate, applicants must not have an overall income that is higher than a predetermined threshold, which is $16,925 for single filers and $22,858 for married couples filing jointly.

CBS News said the eligible resident can bring the rebate application DR 0104PTC to a Colorado Department of Revenue Taxpayer Service Center or mail it to Denver, CO 80261-0005 Colorado Department of Revenue if they are a resident of Colorado and fulfill the qualifications to avail the tax rebate.

An income-qualified senior housing income tax credit is also offered. The Department of Revenue will assess your eligibility for the additional $1,000 tax credit using the facts at hand.

RELATED ARTICLE: Property Tax Refunds: Will Cook County Homeowners Get A Rebate?

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