Coloradans to receive sales tax refund
The Colorado Department of Revenue recently announced how much eligible Coloradans can expect to receive in TABOR surplus sales tax refunds in 2025. All taxpayers who file a 2024 income tax return will automatically receive the temporary income tax rate reduction: 4.40% to 4.25%.
In 1992, voters in Colorado approved the Taxpayer’s Bill of Rights (TABOR), an amendment to the Constitution of the State of Colorado. TABOR generally limits the amount of revenue governments in the state can retain and spend. Absent voter approval, the amendment requires excess revenue to be refunded to taxpayers.
Those residents who fall in the following adjusted gross income ranges will receive:
For more information, please visit Tax.Colorado.gov/TABOR.
Information provided by the Colorado Department of Revenue
