DENVER — Tax refunds are headed to Colorado's taxpayers again in 2025, thanks to TABOR, the Taxpayers' Bill of Rights.
The state of Colorado has collected $1.4 billion more in revenue than it is allowed to keep under TABOR, the Office of the State Auditor said in a news release Monday.
The state auditor's office, an independent and nonpartisan agency that exists under the legislative branch of government, conducts an annual audit of how much revenue the state collects office to ensure it's in compliance with TABOR.
While refunds are expected to be paid out in 2025 for the 2023-24 fiscal year, the state budget is expected to be tighter after that and refunds are uncertain.
