City of Aspen Real Estate Transfer Tax (RETT) of approximately 1.5% is due upon the closing of a property within the City of Aspen. The tax is approximately 1.5% of the closing price payable by the buyer. It is apportioned for two beneficiaries: 1) The affordable housing fund gets 1.0%; 2) The Wheeler Opera House portion gets almost 0.5%. See current Aspen CO homes for sale.
Snowmass Village RETT is 1.0%; Snowmass Base Village Metro District requires an additional 1.0% (for 2.0% total)*.
Sometimes, it’s difficult to figure out if there is the transfer tax or not. This should help:
Five Trees – Yes. Five Trees Lane / Moore Family PUD is in the City of Aspen limits. Five Trees was originally in Pitkin County but annexed to the City. Good Q’s to ask: What rules apply, City or County? Esp for tree cutting? Approved FAR (Floor Area Ratio) …. What size home can one build? By original County regs: 6000 above , 4000 below, 750 sq ft garage. As of late fall 2023, the house size limit in Pitkin County is 9,250 sq ft. It is likely to be further reduced in late 2024 to 8,750 sq ft withing the UGB, Urban Growth Boundary which includes Five Trees.
Maroon Creek – Yes. City of Aspen (annexed)
Aspen Highlands – Yes. City of Aspen (annexed) – special district – includes Thunderbowl Townhomes, etc.
Aspen Highlands property taxes are significantly higher than other Aspen areas. Reason: In order for the developer, Hines Development, to obtain development approval in the late 1990’s they had to form an Aspen Highlands Metro District for which there are bond payments and/or with a special transportation district for year round bus shuttle and free taxi service round trip to Aspen.
Aspen Highlands/Glen Eagles Drive Area – No RETT. This is in Pitkin County, Moore PUD.
Meadowood = No RETT. Pitkin County …An important part of what makes Meadowood appealing, especially to developers is the fact that Pitkin County allows an additional 2,528 sq ft of floor area per property (as their pro rata portion of Meadowood Open Space.)
McSkimming/Eastwood = Yes. City of Aspen. Yes, there is RETT. (In general zoned R-15B but should be verified per address.)
Knollwood – Yes/No, depends. For For properties on the north side of Hwy 82, yes there is a RETT; for some properties on the river side (south) of Hwy 82, there is no RETT..
Mountain Valley = No RETT> Mountain Valley is in Pitkin County (zoned R15A: There are 106 total lots of which 27 are specific duplex lots.)
Red Butte Dr = Yes. City of Aspen. Yes there is RETT tax. (Ridge of Red Mountain is zoned R-30 Suburban Density Residential but should be verified per address.)
Red Mountain = Yes: Bottom part is in the City (yes, RETT); No: upper part in Pitkin County (no RETT). In general, the border is the Rio Grande Trail but should always be confirmed.
– Willoughby Way – No RETT transfer tax;
– Red Mountain Rd – No RETT transfer tax;
– Shady Lane – Yes and no, individual property address needs to be researched.
*Snowmass Village = The Town of Snowmass Village (TOSV) requires a 1.0% Transfer Tax. The Snowmass Base Village metro district has an additional 1.0% to this transfer tax for a 2% total transfer tax. Base Village property examples are: The Viceroy, Lumen, One Snowmass, Limelight, Electric Pass, Cirque, Aura, etc. See current Snowmass real estate for sale.
Aspen Community Development Dept / CITY 970.429.2764 or PlannerOfTheDay at gmail.com
Pitkin County Community Development Dept /COUNTY (970) 920-5526 or PlannerOfTheDay at pitkincounty.com
