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Tax Information: Transfer Tax

The Town of Breckenridge instituted legislation that requires payment at the time of closing in the amount of one percent of the sale for property within town limits or any subdivisions annexed by the Town of Breckenridge. These monies go into the General Fund for the Town of Breckenridge and pay for many of the great things you see happening locally such as the Breckenridge Recreation Center, the Breckenridge Golf Club, the Stephen C. West Ice Arena, road improvements, sidewalk improvements, events and more.

The transfer tax ordinance stipulates the one percent can be paid by either the buyer or the seller, but must be paid at the time of closing. It is usually paid by the buyer. You should discuss with one of our professional brokers who are familiar with Breckenridge whether it makes sense to negotiate who (buyer or seller) should pay the one percent. Any Realtor at Breckenridge Associates Real Estate will be happy to help.

There are now a few new subdivisions, developed by Vail Resorts Development Company (VRDC) that also require a one percent transfer tax. Vail created a Metro District to fund the infrastructure necessary for the development of residential condos and townhomes at Peak 7 and 8 residential zones. This fund is managed by the Breckenridge Mountain Master Association and requires an additional one percent of property sales at time of closing. The transfer tax(es) can be for tax purposes and treated in different ways by different parties and their accountants.

Ask any Breckenridge Associates Real Estate broker about how this detail can work for you in your transaction should you purchase or sell a property subject to Town of Breckenridge transfer tax or in a VRDC-developed subdivision.