Colorado Stimulus Checks 2025: Are You Eligible for Up to $652?
Colorado residents are set to receive state-issued payments in 2025 as part of the Taxpayer’s Bill of Rights (TABOR) refund program. These refunds are triggered when the state’s revenue exceeds its spending limits for the fiscal year, providing financial relief directly to taxpayers.
Here’s what you need to know about eligibility and the expected refund amounts.
Who Qualifies for the 2025 TABOR Refund?
To be eligible for the TABOR refund, you must meet the following criteria:
- Residency: You must be a full-year resident of Colorado.
- Tax Filing: You must file a Colorado state income tax return for the relevant tax year (2024).
- Income Levels: The amount you receive will vary based on your adjusted gross income (AGI).
How Much Will You Get?
The refund amount depends on your filing status and income level:
- Single Filers:
- AGI $53,000 or below: $181
- AGI above $320,001: $571
- Average refund: $326
- Joint Filers:
- AGI $106,000 or below: $362
- AGI above $640,001: $1,142
- Average refund: $652
These amounts reflect Colorado’s efforts to provide targeted financial support to its residents based on income brackets.
How Will Refunds Be Distributed?
Refunds will be sent out via direct deposit or mailed checks, depending on the payment method specified in your tax return. The Colorado Department of Revenue typically begins processing refunds in mid-year, so you can expect payments by the summer of 2025.
Additional Financial Relief in 2025
Beyond the TABOR refunds, Coloradans will benefit from a state income tax rate reduction. The rate is set to drop from 4.40% to 4.25% in 2024, meaning taxpayers will keep more of their income in the new year.
What to Do to Ensure Your Refund
To secure your payment, make sure to:
- File Your State Tax Return: Submit your 2024 Colorado income tax return by the deadline.
- Update Your Information: Ensure your address and banking details are correct to avoid delays.
- Stay Informed: Monitor updates from the Colorado Department of Revenue for any changes or announcements.
Why TABOR Refunds Matter
The TABOR refunds aim to provide financial relief amid rising costs and economic uncertainty. For many families, these payments help cover essential expenses like groceries, bills, and transportation.
If you’re a Colorado resident, check your eligibility and ensure your tax filings are to receive your share of the 2025 refunds.
