While the federal government’s stimulus checks have come to an end, many cities and states are providing several guaranteed income programs or tax credits for their residents. Colorado, for example, offers the Property Tax Rebate, Rental, and Heating Credit. For residents of Colorado to qualify for this stimulus check, various conditions need to be met.
Among these, a key requirement is that potential recipients must have been residing in Colorado throughout the entirety of 2022, specifically from the 1st of January to the 31st of December. Moreover, to be eligible for this stimulus check in Colorado, income considerations apply. For individual taxpayers, the income should not exceed $16,925. For married couples filing jointly, the income threshold is set at $22,858.
Key Eligibility Criteria and Disbursement Dates for Colorado Stimulus Check
Another critical stipulation is that applicants should have met their obligations in paying property taxes, rent, and heating bills during the qualifying period for the Property Tax Credit. It’s also worth noting that individuals who were declared as dependents on someone else’s tax return during this period are ineligible to receive this stimulus check.
Aside from the aforementioned requirements, there are certain age or disability considerations to bear in mind. For instance, you should have reached the age of 65 by the 31st of December, 2022, to be eligible. However, if you’re a surviving spouse, you can apply if you were 58 or older.
Disability is another factor taken into account. Individuals with a disability are eligible to apply for this stimulus check regardless of their age, provided they were qualified for full disability benefits throughout 2022.
As for the value of the stimulus check, it’s worth knowing that an eligible applicant could potentially receive a tax credit of up to $1,044 in Colorado. Regarding the disbursement of these funds, there are three forthcoming dates for direct deposit payments. The first of these is scheduled for October 5, 2023, for applications processed prior to September 10, 2023. The subsequent payment dates will be January 5, 2024, and another one approximately 10 weeks later, provided the approval was given before the end of the year.