Property Tax/Rent/Heat Credit Rebate available to help low-income Coloradans

DENVER, Colo. (KRDO) -- Monday, the Polis-Primavera administration announced a rebate program that's meant to help lower-income Coloradans with their property tax, rent, and/or heat expenses this winter.

According to the state, the Property Tax, Rent, Heat (PTC) Rebate is available to seniors, Coloradans with disabilities, individuals with a total income of less than $16,925, or a married couple with a total combined income of less than $22,858.

The rebate amount can be up to $1,044 a year for applicants.

Since 2019, the state reports the PTC Rebate helped more than 13,000. In 2022, the Colorado Department of Revenue (DOR) outreach campaign increased the number of applications by more than 14% compared to 2021.

The state expects the program to provide more than $7 million in relief to Coloradans this year.

For the tax year 2022 only, there is a refundable income tax credit that's available for seniors who are unable to take advantage of the senior property tax exemption. This credit phases out based on the applicant's income and is up to $1,000 for joint filers.

The DOR offers the PTC Rebate application form and instructions in Spanish again for the 2022 benefit year. 

The Colorado PTC Rebate is paid on a set schedule based on when an application is processed. The payment schedule is set and cannot be changed.

For the fastest delivery of a rebate, the state encourages people to apply by early February and sign up for Direct Deposit.

Below is a look at the application/payment chart:

For example, if someone mails in their application by Jan. 20, 2023, after selecting Direct Deposit and is accepted before March 10, 2023, they'll receive four equal payments.

If your application isn't approved, you will receive a letter.

For more information on the Property Tax/Rent/Heat Credit (PTC) Rebate.