Coloradans are projected to receive slightly lower taxpayer refunds next year than anticipated
Colorado taxpayers are projected to receive refund checks next year that are slightly smaller than anticipated, state economists said Wednesday, though the exact amounts will be determined by whether voters approve a 10-year property tax relief plan on the November ballot.
If the ballot measure, Proposition HH, doesn’t pass, Taxpayer’s Bill of Rights refund amounts will be at least $628 — or $40 less than anticipated — for people who are single tax filers and earn up to $50,000. The refund checks will be at least $1,834 — or about $150 less than anticipated — for people who earn $278,001 or more.
If Proposition HH passes, the TABOR refund checks will be flat rate and not determined by income levels. Under revised data presented to the legislature Wednesday, the checks would be $832 for single tax filers, down from the $898 that was anticipated.