If you’ve lived in Colorado for any length of time, you’ve probably heard the phrase “TABOR refund” buzzing around, especially around tax season. For folks in other states, the concept can sound almost mythical: the government, of its own accord, sending money back to the people.
But in Colorado, it’s a very real, and often very appreciated, feature of the state’s financial panorama. These payments, often nicknamed “TABOR tax refund,” are more than just a bonus; they’re a direct result of a unique constitutional amendment that fundamentally changed the relationship between Coloradans and their state government.
Did You Get Your TABOR Tax Refund? A Step-by-Step Guide
The story starts back in 1992, when voters passed the Taxpayer’s Bill of Rights, or TABOR. In essence, it was a citizen-driven push to put a hard cap on state spending. The rule is simple, yet powerful: the state’s revenue growth is tethered to the combined rates of inflation and population growth.
Any tax revenue that comes in over that calculated limit isn’t just extra cash for the government to spend. By law, it has to be returned to the taxpayers. It’s a radical idea of fiscal restraint that makes Colorado truly unique.
For years, these refunds were often small and worked quietly behind the scenes, usually as a minor adjustment on your state income tax return. You might get a few extra dollars back and not even think twice about it. But then came the post-pandemic economic surge.
With a roaring economy and inflation driving up prices, state revenues absolutely soared, blowing past those TABOR limits. Suddenly, those modest refunds transformed into significant, tangible checks arriving in mailboxes.
In 2022, under the “Colorado Cash Back” banner, single filers received $750 and joint filers got $1,500. It was a game-changer. For many families, it was a lifeline to cover rising grocery bills, a car repair, or a much-needed night out, all while giving local economies a direct shot in the arm.
Who’s eligible for the TABOR checks
It’s not automatic for everyone. Each year, the non-partisan Legislative Council Staff crunches the numbers to see if the state collected too much money. If it did, the refund process kicks in for the following year.
To qualify, you must have been a full-year resident of Colorado for the entire previous tax year, be at least 18 years old, and—this is crucial—you must file a state income tax return. Even if you don’t owe any taxes, you have to file to tell the state you exist and that you’re eligible. For our seniors and lower-income neighbors who aren’t required to file, there’s a special Property Tax/Rent/Heat Credit (PTC) form to claim their refund.
The amounts have varied wildly. After the historic 2022 payments, the refund for the 2023 tax year (issued in 2024) was a flat $800 for individuals. For the 2024 tax year (which we’ll file for in early 2025 and receive refunds later that year), the system changed again. Instead of a flat amount, it’s tiered based on your income.
Single filers with an adjusted gross income under $53,000 will see about $177, while those earning over $312,000 will get the full $800. It’s the state’s attempt to balance the refund in a way that provides more proportional relief.
But here’s the twist for the future. The economic winds have shifted. As of late 2025, the state is projecting a significant budget shortfall for the upcoming fiscal year. The same economic factors that created massive surpluses—high inflation and strong consumer spending—have cooled.
This means that for the 2025 tax year, the talk of big TABOR tax refunds has quieted. Early projections suggest any surplus will be minimal, potentially resulting in a very small refund, if any at all. It’s a stark reminder that this system is a direct reflection of the state’s economic heartbeat.
For now, if you filed your 2024 taxes on time, you should have already received your refund or will soon. If you haven’t, it’s worth a quick call to the Department of Revenue to check on the status. And while the forecast for next year’s refund looks dim, the unique cycle of TABOR means that whenever the economy booms again, Coloradans can likely expect to find a little something extra coming their way. It’s our state’s peculiar, and sometimes contentious, promise that when Colorado prospers, its people will too.
