In 2024, Colorado citizens are eligible to receive the $1,112 Stimulus Payment through the Property Tax, Rent, and Heat Rebate (PTC) Program.
This rebate is part of the state’s effort to provide financial relief to residents who meet specific income and residency requirements.
If you’ve applied and been approved, your payment will be disbursed in October, and you can track its status online.
Here’s what you need to know about eligibility, application deadlines, payment dates, and how to check the status of your application.
What is the $1,112 Stimulus Payment?
The $1,112 Stimulus Payment is part of Colorado’s PTC Rebate Program, which helps low-income residents, particularly the elderly and disabled, cover property taxes, rent, and heating expenses.
This payment, managed by the Colorado Department of Revenue, is divided into two installments, with eligible residents receiving the first half in October 2024 and the second half in a later installment.
Overview of the $1,112 Stimulus Payment:
- Payment Amount: $1,112 (maximum for eligible recipients)
- Administered By: Colorado Department of Revenue
- Eligibility: Low-income residents, seniors, and disabled citizens
- Payment Dates: October 15, 2024 (for the first installment)
- Website: Colorado Department of Revenue
Application Deadlines and Eligibility
To qualify for the $1,112 Stimulus Payment, applicants must have submitted their forms by September 10, 2024.
If you missed this deadline, you have another chance to apply by December 10, 2024. Here’s a closer look at the eligibility requirements:
Eligibility Criteria for the PTC Rebate Program:
- Residency: You must be a U.S. citizen or permanent resident who has lived in Colorado for at least one year.
- Age Requirement: You must be at least 65 years old. However, if you are disabled, there is no age limit. Applicants living with a spouse can also apply if their spouse is at least 58 years old.
- Income Threshold:
- For single applicants, the annual income limit is $18,026.
- For joint applicants (filing with a spouse), the limit is $24,345.
- Disqualification: Individuals receiving other tax rebate benefits from federal programs (such as dependent or other federal tax returns) are not eligible for the PTC payment.
How Income Affects Payments:
The PTC rebate payment is determined based on your annual income. The maximum payment for eligible individuals is $1,112.
However, the payment you receive depends on your income, with lower-income applicants receiving more substantial rebates.
How to Check the Status of Your Application
If you applied for the October 2024 PTC payment, you can check your application status by following these steps:
- Visit the Official Website: Go to the Colorado Department of Revenue’s online portal.
- Locate the PTC Rebate Link: On the homepage, find the section labeled “Where’s My Property Tax, Rent, and Heat Rebate – PTC?” under the Refund Resource section.
- Provide Your Details: On the new page, enter your program type (PTC rebate), Social Security Number (SSN), refund amount, and PIN/Letter ID provided by the state.
- Check Your Status: After entering your details, click on “Get My Refund” to view your application’s status. Ensure that the refund amount you enter corresponds to the current installment (half of the total rebate) to avoid errors.
If you experience delays or issues with your application, double-check the accuracy of your provided information. Incorrect data can cause your payment to be delayed.
Payment Schedule for October 2024
The October PTC payment is scheduled for October 15, 2024, for approved applicants. If you applied by the September 10th deadline, you will receive half of the total rebate ($1,112), with the remaining payment to be distributed in subsequent months.
For those who applied later or who missed the deadline, the next payment installment is scheduled after the December 10, 2024, application period.
Key Payment Dates:
- October 15, 2024: First payment installment for approved applicants.
- Next Payment: The second half of the rebate will be issued in a later installment, depending on when you applied.
Additional Facts about the PTC Rebate Program
- Income Limits: Single applicants with income over $18,026 and joint applicants with over $24,345 will not be eligible for the rebate.
- How the Payment is Used: The PTC rebate is designed to help residents cover property taxes, rent, and heating expenses, which are crucial, especially during the winter months.
- Benefit for Disabled Individuals: There is no age limit for disabled individuals, making the PTC program accessible to many Colorado residents who are unable to work due to disability.
The $1,112 Stimulus Payment under Colorado’s PTC Rebate Program offers much-needed financial relief for low-income residents, seniors, and disabled individuals.
If you’ve applied and were approved before the deadline, you can expect your first installment by October 15, 2024. If you missed the earlier deadline, you still have time to apply by December 10, 2024.
Be sure to check your application status through the Colorado Department of Revenue to stay updated.
FAQs
Who is eligible for the $1,112 Stimulus Payment?
Residents of Colorado who meet the age, residency, and income requirements are eligible.
When will the first payment be issued?
The first payment will be issued on October 15, 2024.
What is the income limit to qualify for the PTC rebate?
The income limit is $18,026 for single applicants and $24,345 for joint applicants.
How can I check my application status?
Visit the Colorado Department of Revenue’s website and use the “Where’s My Property Tax, Rent, and Heat Rebate – PTC” tool.
Is there a second application deadline?
Yes, the second deadline to apply is December 10, 2024.
