Transfer Tax

Town of Breckenridge
The Town of Breckenridge adopted tax legislation that requires mandatory payment at the time of conveyance in the amount of one percent of the sales price of a property within the town limits. This tax fund supplies the General Fund for the Town of Breckenridge and pays for many Town provided amenities including but not limted to the Breckenridge Recreation Center, the Breckenridge Golf Club, the Steven C. West Ice Arena, street improvements, parking facilities, Town events, programming, etc.

There is not legal requirement for if the Buyer or the Seller should pay the tax, however it has been custom that the Buyer pay it.  However, customs are different in many towns where a transfer tax is due upon sale, and the Colorado Real Estate Commission mandated real estate purchase contracts now provide the option for either party, the Buyer, Seller or both (50% each) to pay the tax.  This is part of the negotiation process and we would discuss strategies with you upon structuring an offer.

Other Areas

Other areas like Frisco also have a 1% tansfer tax with similar rules.  Developers are creating "Metro Districts"  that require a 1% transfer tax due upon sale.  This can be in addition to the Town transfer tax if the land is located within the Town boundaries.  This Metro District tax goes towards maintenance, bus service, etc. that the developer provides for the development.  Examples of these are, Peak 8 Village that Vail Resorts Development Company is builiding, River Run Village in Keystone.  These locations are subject to a total of 2% transfer tax.