TABOR Payments: When will you receive your checks in Colorado?

TeaThat Colorado state is set to offer Jefferson County residents a payment of up to $80 under the Taxpayer Bill of Rights (TABOR).

The essence of TABOR is to ensure that the excess revenue is to be refunded to the taxpayers if the total revenue collected by the state or local government exceeds the TABOR limit in a particular year.

Introduced in 1992, TABOR also restricts the total amount that local governments can spend in Colorado. This means that since Jefferson County had more than $17.3 million in 2021, residents are entitled to an exemption.

Who is eligible?

While the state of Colorado sent filers an exemption of up to $750 last August, the latest round of payments will only go to those who paid property taxes in the county during 2021.

How much will you get paid?

The final amount one will receive will be directly proportional to the amount of property tax paid during the previous year.

This means the amount will vary significantly, with 88 percent of estate taxpayers receiving $80 or less, while 50 percent of taxpayers determined to receive $50 or less depending on their estate tax from the previous year. has gone.

In some cases the payout can drop below a dollar. It’s also worth noting that Jefferson County residents who have not paid property taxes in Colorado during 2021 will not be eligible to receive these payments.

It’s also worth noting that since each check would cost 97 cents to send, it would cost about $213,000 to mail these checks to county tax-paying residents.

When will you get the check?

Sometime during the first week of October it should start hitting check mailboxes. If the check is not sent to eligible residents for any reason, they must contact the Jefferson County Treasurer’s Office.

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