Colorado Taxpayers Miss Out on TABOR Refunds Under Polis Budget Plan

By Marissa Ventrelli | The Denver Gazette

Gov. Jared Polis on Friday submitted revised budget requests for the next two fiscal years, calling for new public safety spending, changes to Medicaid growth, and renewed efforts to privatize Pinnacol Assurance.

Notably, the governor said Colorado residents won’t get refunds from the Taxpayer’s Bill of Rights (TABOR).

“We are focused on protecting the issues that Coloradans care most about – education, access to health care and safety — while delivering a balanced budget for Colorado,” he said. “In this difficult budget environment, we are doing everything we can to deliver the best possible results for Colorado and know that the Joint Budget Committee will have challenging decisions to make in the months ahead. We look forward to working with them and the rest of the General Assembly.”

The new requests totaled $48.6 billion, with $18.2 billion in General Funds for fiscal year 2025-26, and $50.5 billion for 2026-2027.

Polis said the state will be about $308 million below the TABOR cap, meaning Coloradans will not receive a refund in 2026.

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