The state of Colorado is expected to send out financial relief soon under the yearly PTC (Property Tax, Rent, Heat Credit) Rebate. The first round of payments under this tax rebate was issued back in April. The recipients’ applications had to be approved and processed by March 10th to have been included in that round.
The PTC Tax Rebate From Colorado
At the beginning of the year, Colorado announced that the PTC tax rebate program can send over $7Mil as financial relief to residents who are eligible. However, a deadline that is been introduced recently is soon approaching. The deadline will be applicable to applicants whose claims have been submitted as well as processed before June 10th, Sunday.
As such, the eligible candidates whose applications have been completed in this manner will get their PTC Tax rebate on one of two dates – July 5th or July 15th. The date will depend on the payment method that the applicant has chosen. However, it should be noted that there is no guarantee that an applicant’s claim will be processed before this date even if it is filed in time for the deadline. Even then, applicants will still be able to get the rebate at a future date.
Thus, we highly recommend filling out the application without wasting any time whatsoever. Furthermore, there are a few other requirements that must be met for the application to be accepted. The total income of single filers must not be more than $16,925, while for married filers who are filing jointly, the limit is $22,858. Moreover, they must not be younger than 65, or they must be a surviving spouse who is not younger than 58, or a disabled person who does not have the ability to do any financial activity, or they must not be claimed as someone else’s dependent.
