Colorado residents only have a week left to apply for a tax rebate that could give them at least $1,000.

The Property Tax, Rent, Heat Rebate will give Colorado residents with disabilities and older adults a rebate to help them pay for heating expenses that they may acquire this year. The amount of this annual rebate can be up to $1,044 a year for an applicant, and any applicants who apply in 2023 could receive up to a $1,000 refundable tax credit, according to Colorado's Department of Revenue.

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To claim this rebate, an applicant must have lived in Colorado for the entirety of 2022, paid property tax, rent, or heating bills during 2022, and cannot have been claimed as a dependent on someone else's federal income tax return. An applicant must also fit one of the following criteria: be 65 or older by Dec. 31 of last year, have a surviving spouse who is 58 or older, or be a disabled person.

The final requirement for this payment is that applicants must not have their total income above a certain limit, which is $16,925 for single filers and $22,858 for married filing jointly.

The exact date of when recipients get paid from this rebate will depend on how they get paid as well as when they file. Applications received, approved, and processed before March 10 will be issued to a direct deposit on April 5, while paper checks will be issued on April 15, with additional payments arriving every three months afterward. Anyone who files after the March 10 deadline will receive their payments later in the year.

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Colorado residents who fill out an application for this rebate can either bring their completed application to a Colorado Department of Revenue Taxpayer Service Center or mail it to the department.

Additional information regarding this rebate can be found on the state's Department of Revenue website.