COLORADO — On Monday, the Polis Administration announced the Property Tax, Rent, Heat Rebate relief credit for qualifying Coloradans to help battle winter costs.
The rebate will see qualifying individuals receive up to $1,044 a year, and when applying in 2023 could make you eligible for a $1,000 refundable tax credit.
The program provides funds to beneficiaries to supplement income for the expenses of heat, rent, and property taxes that affect low-income Coloradans across the state.
The eligibility requirements are as follows:
- You lived in Colorado from January 1 - December 31, 2022.
- Your total income from all sources was less than $16,925 for single filers and $22,858 for married filing jointly.
- As of December 31, 2022, you meet one of the criteria below:
- Age 65 or older
- A surviving spouse, age 58 or older. If you were divorced before your spouse died, you are not considered a surviving spouse
- A disabled person of any age could not engage in any substantial gainful activity for medical reasons. You also must have qualified for full benefits from January 1 - December 31, 2022 from a bona fide public or private plan or source, based solely on your disability.
- You paid property tax, rent, or heating bills during this PTC period.
- You were not claimed as a dependent on someone else’s federal income tax return.
Applicants and beneficiaries of the rebate should know the following deadlines and important dates regarding the rebate program.
| Application Received, Approved, and Processed Before | Direct Deposit Payment Dates | Paper Check Payment Dates | Amount of Each Installment Payment | Number of Equal Installments |
|---|---|---|---|---|
| March 10, 2023 | April 5, 2023 | April 15, 2023 | 1/4 of total rebate | 4 |
| June 10, 2023 | July 5, 2023 | July 15, 2023 | 1/3 of total rebate | 3 |
| September 10, 2023 | October 5, 2023 | October 15, 2023 | 1/2 of total rebate | 2 |
| December 10, 2023 | January 5, 2024 | January 15, 2024 | Full rebate | 1 |
| December 31, 2024 | 10 Weeks after receipt | 12 weeks after receipt | Full rebate | 1 |
If you have filed for the PTC Rebate within thelast two years you can file online for free.
If this is your first time filing you can download the application form here. Forms must be mailed to the Colorado Department of Revenue, Denver, CO 80261-0005.
____
Watch KOAA News5 on your time, anytime with our free streaming app available for your Roku, FireTV, AppleTV and Android TV. Just search KOAA News5, download and start watching.
