Property Tax and Rent Rebate (Circuit Breaker)

Colorado

2019

Benefit Varies with Income

Circuit Breaker

The benefit is a grant to cover the property taxes owed on real property or, in the case of renters, 20% of rent paid during the taxable year. The property tax rent equivalent is 18% if heat is included. The maximum amount of relief is $700. This amount is reduced by $227 or 10% of the amount by which the individual's income exceeds $6,639 (single) or $10,731 (married), whichever is greater. Income levels are annually adjusted for inflation according to the Denver-Boulder-Greeley consumer price index. Applications for 2018 rebates (paid in 2019) may be filed until 31 December 2020. Applications for 2019 rebates (paid in 2020) may be filed until 31 December 2021.

Direct payment to taxpayer

Residential

Only residential property is eligible for this program.

Age

Disability

Homeowner

Income Ceiling

Principal Residence

Renter

Surviving Spouse

Other Criteria

The claimant must have resided in the state for the full taxable year, and either be 65 years of age or older or suffer from a disability as defined by the taxing authority administering the program. Surviving spouses must be at least 58 years of age. To receive the rebate in 2019, the maximum income for 2018 for a single individual is $14,074 and for a married household is $18,972.

Local government is unable to exercise an option

No local option regarding program features

State reimburses all of the local government tax loss

The state issues a rebate directly to the taxpayer.

CO102_RR19