Rebate available for low-income seniors and disabled
Money back for rent, property tax and heating expenses
Denver, CO, January 29, 2014 –The Colorado Property Tax/Rent/Heat Credit, commonly known as the “PTC Rebate,” is a rebate for low-income seniors and disabled individuals. Many Coloradans may be eligible for this PTC rebate, which is available every year. The rebate is administered by the Colorado Department of Revenue. It has been available to Colorado residents since 1971.
The actual rebate total is based on the applicant’s income and expenses. Any Colorado resident who meets the requirements for the rebate may submit the 2013 rebate application, Form 104 PTC, beginning January 1. The application is available on the Department of Revenue’s Taxation Web site at www.TaxColorado.com. Click the PTC button at the top of the page.
What are the eligibility requirements?
- Resided in Colorado the entire year.
- Are lawfully present in the United States. Complete the DR 4679 PTC lawful presence affidavit.
- Single person with total income of less than $12,639.
- Married couple with total combined income of less than $16,731.
- You (either husband or wife) are 65 or older by Dec. 31, or are a surviving spouse at least 58 years old by Dec. 31.
- You were disabled for the entire year, regardless of age.
- You are not claimed as a dependent on any other person’s federal income tax return.
When will the rebate be issued?
|Application received, approved, and processed before||Direct Deposit Payment Dates||Paper Check Payment Dates||Amount of Each Installment Payment||Number of Equal Installments|
|March 10, 2014||April 5, 2014||April 15, 2014||¼ of total rebate||4|
|June 10, 2014||July 5, 2014||July 15, 2014||1/3 of total rebate||3|
|September 10, 2014||October 5, 2014||October 15, 2014||½ of total rebate||2|
|December 10, 2014||January 5, 2015||January 15, 2015||Full rebate||1|
|December 31, 2015||10 Weeks after receipt||12 weeks after receipt||Full rebate||1|
The status of a PTC rebate will not be available until April 15, 2014 (at the earliest) or 12 weeks after the application is filed. Depending on when the application is approved, installment payments are issued in April, July, October and January.
For those with Internet access, go to Revenue Online at www.Colorado.gov/RevenueOnline. Under “For Individuals,” click on “Where’s My Refund” to check the status of the most current installment payment. This system will not show the applicant’s full rebate amount.