Colorado 104PTC

104PTC Property Tax/Rent/Heat Rebate (FYI General 7)

A very few taxpayers will have to file a tax return and still be eligible for the PTC rebate.

Benefits are:

  • Up to $600 in property taxes paid (including those paid on the TP’s behalf under the Property Tax Deferral Program)
  • Up to $192 in heating bills paid.

Requirements are:

  1. Either taxpayer is 65 or older (at year end), or a surviving spouse at least 58, or disabled with benefits for the entire year.
  2. Resided in Colorado for the entire year (both if married).
  3. Lawfully present in the United States.
  4. Must have a Colorado driver’s license or ID card.
  5. Not claimed as a dependent on any other person’s tax return.
  6. Total income for all sources less than:
2015 2016
Single 12,953  13,234
Married 17,460  17,839

Process notes:

  • Only the current and one previous tax year can be claimed.
  • If you don’t know if the property is a tax-exempt property, check NO. Colorado will verify. If you check YES and it is not a tax-exempt property, Colorado will not check.
  • Remove any Medicare D payments included in the Social Security worksheet and move it to Schedule A detail under medical expenses.