Real Estate Transfer Tax (RETT)

RETT Reports:

RETT Forms:

 

 Wheeler Opera House Real Estate Transfer Tax and Housing Real Estate Transfer Tax:

These taxes are due on the purchase of all real property (land, buildings, condos, townhomes, etc.) within the city limits of Aspen. They are submitted and paid to the City Cashier in the Finance Department prior to recording the purchase deed at the Pitkin County Clerk and Recorder's Office.

There are two separate RETT's totaling 1.5%:
    1. Wheeler Opera House Real Estate Transfer Tax (WRETT) of 0.5% 
      • The Actual Cash Consideration is taxed at the WRETT rate of 0.5%
    2. Housing Real Estate Transfer Tax (HRETT) of 1.0
      • The first $100,000 of the transaction is deducted prior to applying the HRETT rate of 1.0%.  (Total Consideration - $100,000 X .01)
 
How are Real Estate Transfer Taxes Paid?
The RETTs are paid using the City of Aspen Real Estate Transfer Tax Transmittal Form . The form is submitted with the payment and the original deed to the City Cashier. The Cashier will review, approve and stamp the documents prior to recording with the Pitkin County Clerk & Recorder's office. Documents may also be mailed for review to: Finance Department, City of Aspen, 130 South Galena Street, Aspen, CO  81611. 

Who is responsible for paying the Real Estate Transfer Taxes?
The City of Aspen's RETTs are assessed against the purchaser. Failure to pay the RETTs will result in the filing of a lien against the property.
 
What happens if I don't pay the Real Estate Transfer Taxes?
Failure to obtain the City's "Paid" or "Exempt" stamps for both RETTs on the deed prior to recording may result in the purchaser's inability to sell the property with a clear title in the future.

Are there any exemptions from the Real Estate Transfer Taxes?
Yes, there are RETT exemptions. These exemptions must be properly applied for, documented, and the deed must be stamped "exempt" by the City Cashier prior to recording. The reasons for exemption are listed on the RETT Exemption Application.
 
RETT exemptions regarding foreclosures have recently been clarified (4/10).  To view the ordinance amending the exemptions for foreclosures, click here.

Real Estate Transfer Tax Exemptions may be applied for by completing the City of Aspen Real Estate Transfer Tax Exemption Application.

 

Are Real Estate Transfer Taxes prohibited in Colorado?

No NEW Real Estate Transfer Taxes may be adopted in Colorado. However, Aspen's RETTs were adopted prior to the amendment to the constitution.


For additional information or questions, please contact the Finance Department at 970-920-5043, 130 South Galena Street, Aspen, CO 81611, or e-mail us at aspen_sales_tax@ci.aspen.co.us.