DENVER (KDVR) — TABOR refunds won't come until Coloradans file taxes in 2026, but there is already an estimated amount of refunds for each taxpayer.
TABOR is the Colorado Taxpayer’s Bill of Rights law, which caps state revenue and requires the excess to be returned to taxpayers, including laws that outline how the state can refund the money. In short, it’s when the state takes tax revenue above the limit and refunds it.
In previous years, Coloradans have received anything from an estimated $177 for single filers and over $1,000 for joint filers in 2025, but for the 2025 tax year, with refunds coming in 2026, it's going to be much less.
How much will the next TABOR refund be?
The Legislative Council staff released the economic and revenue forecast for September, which looks into the general fund budget overview, school finances, general and cash fund revenue, economic outlook and the TABOR outlook for the upcoming tax seasons.
This year, the forecast said the general fund revenue totaled $17.18 billion in 2024-2025, and since the state controller certified a TABOR surplus of $296.1 million, the TABOR refund in 2026 will be $293.3 million after overrefunds of prior year surpluses.
Coloradans will not see TABOR refunds with state facing $700M shortfall: LegislatorsHere's how much the projected TABOR refunds for the 2025 tax year will be:
Taxpayer distribution by AGISingle filersJoint filersUp to $54,000$20$40$54,001 to $110,000$26$52$110,001 to $176,000 $30$60$176,001 to $250,000 $36$72$250,001 to $329,000$38$76$329,001 and up$62$124The Colorado Legislative Council has expected refunds to shrink for a while now. In 2024, the council said these refunds would decrease as Colorado is expecting less tax revenue, in part because of the softening economy, decreasing income tax rate and more money spent on tax credits for families.
From $800 to $200: TABOR checks expected to shrink over next few yearsWhile these refunds are lower than the previous years, Coloradans should expect less — or even none — in the upcoming years.
The forecast said that in fiscal year 2025-2026, revenue impacted by TABOR will fall $215 million below the cap, meaning that there is expected to be no TABOR refunds for the 2026 tax year. The refunds are expected to come back eventually, with the 2027 tax year refunding anywhere from $47 to almost $300. For the 2028 tax year, the forecast predicts a refund of anywhere between $65 and $410 for single and joint filers.
The staff will release another forecast in December with the final predictions. The Department of Revenue said it can't confirm these numbers at this time, as it didn't produce them.
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