The state of Colorado has set the deadline for eligible residents to apply for the Property Tax, Rent, Heat (PTC) Rebate, a $7 million program designed to aid seniors and low-income earners in offsetting the cost of energy and housing.
PTC Rebate in Colorado. (Photo: Marketwatch)
PTC Rebate Eligibility
Governor Jared Polis announced the deadline on January 30, and the maximum rebate is $1,044. Eligible recipients must have resided in Colorado between January 1, 2022, and December 31, 2022. In addition, their income must not exceed $16,925 for single filers and $22,858 for joint filers, according to The U.S. Sun.
To qualify for the rebate, applicants must meet at least one of the following requirements:
- be aged 65 or older
- be a surviving spouse aged 58 or older
- be disabled and unable to engage in work for medical reasons
- have paid property taxes, rent, or heating bills during the period between January 1, 2022, and December 31, 2022
- or not have been claimed as a dependent on someone’s federal income tax return.
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When Will You Receive the PTC Rebate?
First-time applicants must mail their applications, while those who have previously received the rebate can file online. Applicants who opt for direct deposit can expect their rebate to arrive by April 5, while those receiving paper checks can expect them by April 15.
Those who miss the March 10 deadline can still apply for the rebate later in the year. Eligible individuals can apply before June 10 to receive funds in July or by September 10 to receive relief in October, according to a published report in CBS News.
The PTC Rebate is one of several measures that the Colorado state government is undertaking to help ease the financial burden of energy and housing costs for its residents.
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