Receiving a payment is nice. But when it comes to taxes, it is even nicer. The state of Colorado is the only state that has approved the Taxpayer Bill of Rights or TABOR measures.
According to these measures, limits are placed on the overall raising and spending of tax revenue. These measures were passed in 1992.
Accordingly, voter approval is required at the local and state government levels when certain tax rates are raised. This system also notes that should revenue collected under the current tax rate grows faster than the population growth and inflation rate, the surplus should be refunded back to the taxpayers.
The relevance of this payment system
The TABOR, or Taxpayer’s Bill of Rights, is a very broad term. It has reference to various policies and concepts that relate to tax payment and collection. At the state level, it is indicative of the initiatives rendered to limit the ability of the government to raise taxes. On a federal level, it links back to legislation that gives certain rights to taxpayers. These rights become applicable during assessments and audits.
According to the 2014 Taxpayer’s Bill of Rights in the Internal Revenue Code, a charter was set outlining ten taxpayers’ rights:
- Right to quality service.
- Right to be able to challenge the position of the IRS and be heard.
- Right to pay no more than the correct amount of tax.
- Right to be informed.
- Right to appeal a decision made by the IRS, and for this to be done in an independent forum.
- Right to privacy.
- Right to a just and fair tax system.
- Right to finality.
- Right to be able to retain representation.
- Right to confidentiality.
An explanation of the TABOR refund checks
The Colorado Department of Revenue – Taxation mentions that TABOR refunds are on the cards for individuals residing within this state. These payments were authorized as part of the 2025 payment due to excess tax revenue collected during 2024. Certain criteria may apply that will determine eligibility. These are:
- The individual needs to be at least 18 years of age or older by 1 January 2025.
- Residency must have been in Colorado for the full duration of 2024.
- The PTC rebate application for the 2024 Colorado state income tax return should be filed by 15 October 2025.
Individuals who meet these requirements can expect an automatic refund payment. Extra paperwork may only be required when the application is made via the PTC or Property Tax, Rent, Heat Rebate program.
