Pitkin County County Assessor Tom Isaac reported that just two dozen of the 140 homes classified as agricultural properties in the county are actually agricultural, under the new standard.
ASPEN REAL ESTATE – A new state law aimed at closing a loophole for “toy ranch” owners is expected to raise property taxes on 116 local properties, according to the Pitkin County assessor’s office.The law is an attempt to stop luxury homeowners in rural resort areas like Aspen from improperly getting thousands of dollars in tax breaks. Homeowners have commonly had their land classified as agricultural operations by leasing small amounts of it for minimal farming.It aims to stop maneuvers like actors Goldie Hawn and Kurt Russell’s classification of their 70-plus acre Old Snowmass property as “agricultural” in 2002, which netted not only a tax break but a payment of more than $37,000 from Pitkin County for the couple’s past overpayment of “residential” property taxes, according to officials.
By Andrew Travers, Oct. 10, 2011, ADN
Old Snowmass Ranch For Sale (Photo credit: Chaffin Light RE)