Good news for Colorado residents! A new financial boost is on the way in the form of a $1,112 rebate payment through the Property Tax, Rent, and Heat Credit (PTC) Rebate Program. If you meet the eligibility criteria, you could be receiving this payment to help cover essential living expenses.
Who Qualifies for the $1,112 Payment?
Not everyone in Colorado will get this payment, as eligibility depends on factors like age, income, and disability status. Here’s a breakdown of who qualifies:
- Age Requirement: Must be at least 65 years old. However, if you’re a surviving spouse of someone who was eligible, you can apply at 58.
- Disability Status: If you have a disability, you may qualify at any age.
- Income Limits: If you are single, your income must be below $18,026, and if you’re married (filing jointly), it must be under $24,345.
- Residency: You must have lived in Colorado for the entire 2023 calendar year.
One important thing to note: If you receive other federal tax benefits—such as certain dependent tax credits—you may not be eligible for this payment.
When Will You Get Paid?
The timing of your payment depends on when you submit your application. Here’s the breakdown:
- Apply by March 10, 2024 → Payments start in April 2024 (Quarterly Installments)
- Apply by June 10, 2024 → Payments start in July 2024 (Three Installments)
- Apply by September 10, 2024 → Payments start in October 2024 (Two Installments)
- Apply by December 10, 2024 → Payment will be made in January 2025 (One Lump Sum)
If you miss all these deadlines, you can still apply, but your rebate will be processed about 10 weeks after submission.
How to Apply for the $1,112 Payment
Applying for this payment is simple! You have two options:
- Online Application: Visit the Colorado Department of Revenue’s website and apply through the Revenue Online Portal.
- Mail-in Application: Download the form from the official website, fill it out, and send it along with the required documents.
Documents You’ll Need
Make sure you have the following:
- Proof of Residency – Utility bills, lease agreements, or official documents.
- Income Proof – Social Security statements, pension details, or other income records.
- Expense Records – Rent receipts, property tax payments, and heating bills.
Common Mistakes That Could Delay Your Payment
If you want to receive your payment as quickly as possible, avoid these common mistakes:
- Missing the Deadline – Late applications mean late payments.
- Incomplete Forms – Make sure you fill out every section correctly.
- Incorrect Information – Your details should match your official records to prevent processing issues.
Final Thoughts
This $1,112 rebate program is not a federal stimulus check but rather a state-funded benefit designed to help low-income seniors, disabled individuals, and low-income residents with property tax, rent, and heating costs. If you qualify, don’t miss your chance to apply and claim your payment!
For the latest updates, visit the Colorado Department of Revenue’s website or check with a financial expert to ensure you meet all the requirements.
