Weak real estate sales in Snowmass Village this year have the town government looking for alternate financial sources to bolster its real estate transfer tax (RETT) fund, which pays for increasing demands from public recreation to roads, and town beautification projects to capital equipment and supply purchases…Most point to the unfinished Base Village project and its continued uncertainty for the widening chasm between property values in Aspen and Snowmass Village. Whereas the historical spread used to be 25-30% on average, The Estin Report estimates it is now closer to a 40-50% discount for Snowmass properties.
Link to article by Madeleine Osberger, Aug 25, 2014 ADN and AJ
View of aborted Snowmass Base Village project from the Snowmass Gondola. (Credit: Aspen Journalism.org)