How much Colorado taxpayers will get in refunds on 2022 tax filings
It's Tax Day — which hopefully isn't a surprise. (If so, here's how to file an extension.)
What to know: Colorado taxpayers will receive refunds from the Taxpayer's Bill of Rights this year.
- The constitutional amendment requires the state to return any tax revenue over the percentage growth in population plus inflation cap.
By the numbers: The state is refunding $525.5 million this year and $186 million in a sales tax rebate when you file your 2021 taxes.
- Refunds range from $37 to $117 per person, depending on income level.
- The totals would be greater, but Gov. Jared Polis signed a bill last year to allow the state to keep $225 million more than previous law.
What to watch: Next year when you file taxes, the TABOR refund is expected to be nine-times larger as the state gives back a projected $2 billion.
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