COLORADO SPRINGS, Colo. — The City of Colorado Springs will be giving money back to customers on their March utility bill.
The money is coming from excess tax revenue collected under TABOR, also known as the Taxpayer Bill of Rights. In 2022, the city got an extra $4.7 million.
"We're very happy to, first of all, comply with TABOR and provide some refund back to our residents, " said Charae McDaniel, with City of Colorado Springs Finance Department.
On average each customer will receive a 20 dollar credit.
WATCH: TABOR EXPLAINED IN 90 SECONDS
The city says they expect to receive $6.2 million over the TABOR limit in 2024, which will go ahead and be refunded as credit on residents' 2024 tax bill.
Click here for more information.
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