Jefferson County taxpayers will soon receive a TABOR refund check in the mail, as required by the state’s Taxpayer’s Bill of Rights Amendment (TABOR).
The TABOR Amendment requires governments in Colorado to refund excess revenue collected above the TABOR limit for a given fiscal year or seek voter approval to retain the excess revenue. In 2020, Jefferson County received approximately $1.5 million in property tax revenue above the TABOR property tax limit, as a result, the county is required to give that money back to the taxpayers in 2021. There are a variety of methods that can be used to refund the excess property tax revenue to taxpayers. Examples include mailing refund checks or applying a credit to the following year’s property tax bill. After exploring the various options, Jefferson County determined mailing refund checks was the most direct and transparent way for each taxpayer to receive their fair share of the refund.All property taxpayers will receive an equitable share of the $1.5 million refund. The average refund is about $7; however, 87% of property taxpayers will receive less than $7 because the top five highest property taxpayers – all large commercial properties – drive up the average. Property taxpayers include homes, businesses, and other organizations.Even though some refund checks will be less than $1, the Board of County Commissioners, County Manager and staff believed it is important to be as equitable as possible in distributing the refund.
There are more tough decisions ahead, and Jefferson County continues to evaluate all areas for efficiencies, reductions or possible elimination. We will continue to work to prioritize the safety and well-being of our community and those things only local government can do.