FAQs
State transfer taxes
In Colorado, the statewide documentary fee is levied at a rate of 2 cents for every $100 of the property's sale price. For example, on a property that sells for $400,000, the buyer is responsible for an $80 fee.
What is the transfer tax in Breckenridge CO? ›
The amount of tax that must be remitted to the Town of Breckenridge is 1% of the Gross Consideration. The burden of the tax is the responsibility of the property buyer or grantee. Please read the instructions below to go through the Real Estate Transfer Tax process.
What is the property tax rate in Summit County Colorado? ›
Colorado Property Tax Rates
| County | Median Home Value | Average Effective Property Tax Rate |
|---|
| Summit County | $596,300 | 0.33% |
| Teller County | $304,800 | 0.44% |
| Washington County | $162,200 | 0.50% |
| Weld County | $326,100 | 0.64% |
60 more rowsCONVEYANCE FEE. $4.00 per $1000 rounded up to the next $100 of the sale price.
What is the transfer tax in Vail? ›
Creation of the Town of Vail 1% Real Estate Transfer Tax (RETT) in 1980 is considered to be among Vail's greatest treasures. Funds collected are restricted by town ordinance for acquiring, maintaining and improving local property for parks, recreation, open space and for supporting sustainable environmental practices.
How much is the transfer fee in Colorado? ›
Colorado's current transfer tax rate is $0.02 per $100. So, for a house worth $550,511 — the median home price in the state — the transfer tax due will be $110. Cities within the state may charge an additional fee on top of the standard rate, which can cause your total dues to increase.
What is the transfer tax in Aspen Colorado? ›
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.
What is the transfer tax in Frisco Colorado? ›
Finance is responsible for the collection and administration of the 1% transfer tax.
What is the transfer tax in Winter Park Colorado? ›
About the Transfer Tax
The Town of Winter Park collects a 1% Real Estate Transfer Tax (RETT) on the transfer of any real estate within the Town.
Why are Summit County property taxes so high? ›
A surge in home values over the past two years have caused residential property taxes to jump — but not necessarily by the same amount. An analysis shows average property tax bills increased by around 30% to 40% from 2023 to 2024 while residential property rose in value by roughly 60%.
The minimum combined 2024 sales tax rate for Summit County, Colorado is 6.38%. This is the total of state and county sales tax rates. The Colorado state sales tax rate is currently 2.9%. The Summit County sales tax rate is 2%.
What city in Colorado has the highest tax rate? ›
What are the highest sales tax rates in Colorado?
- Winter Park – 11.2% sales tax. 2.9% state tax, 1.3% Grand County tax, 7% Winter Park tax.
- Empire – 10.55% sales tax (tie) ...
- Idaho Springs – 10.55% sales tax (tie) ...
- Silverton – 10.4% sales tax (tie) ...
- Snowmass Village – 10.4% sales tax (tie)
Conveyance tax is imposed on the transfer of real property at the state, county, or municipal level. The conveyance tax is also known as a real estate transfer tax. This tax is generally calculated as a percentage of the sale price.
What is the meaning of conveyance fee? ›
A conveyance fee is a payment made to a conveyancer, lawyer, or legal professional for their services in handling the transfer of ownership of a property, such as a house, land, or apartment.
What are conveyancing fees for? ›
They are a group of legal costs you will pay when buying or selling a house. They cover the cost of exchanging contracts, and carrying out all the steps needed to complete your purchase or sale. They are the basic fee that you pay the conveyancer for their actual work.
Who usually pays the sales transfer tax on a real property transaction? ›
In California, sellers traditionally have paid this tax – but they are not legally required to do so. Government authorities do not care who pays the tax as long as it gets paid – so this can lead to disagreements that can negatively impact the sales process.
How do you transfer real property in Colorado? ›
For any type of real estate title transfer, you'll need to fill out the appropriate forms and have all parties sign in front of a notary. The new owner is responsible for filling out a Real Property Transfer Declaration form and recording the deed at both the recorder's and county clerk's offices.
Who pays closing cost in Colorado? ›
Does the buyer pay closing costs in Colorado? Both buyers and sellers pay their share of closing costs, in Colorado and in every state. Although buyers typically pay most of the traditional closing costs, sellers usually pay more monetarily, because they cover the cost of the real estate agents' commissions.
Does Colorado have a capital gains tax on real estate? ›
While Colorado does have a capital gain tax on the sale of a residence, they have the same exclusion as federal tax. If you lived in your house for two of the past five years you can excluded up to $250,000 ($500,000 if married filing joint) in gain on the sale of your house.
