When looking to purchase a property in Winter Park or Fraser, Colorado, it's important to understand the distinct tax implications in these neighboring towns. Both towns offer unique opportunities and amenities, but they differ significantly when it comes to transfer taxes. Here's a detailed breakdown to help potential buyers navigate these financial considerations.
Winter Park's Transfer Tax Structure
Winter Park imposes a 1% Real Estate Transfer Tax (RETT) on all real estate transactions within the town. This tax contributes to the Town’s General Fund, which finances various municipal services such as snow plowing, police, and parks maintenance.
In addition to the RETT, certain subdivisions in Winter Park are subject to an additional Real Estate Transfer Assessment (RETA). This extra tax helps to mitigate the subdivision’s impact on workforce housing and town services. Here’s how the RETA is applied in some of the neighborhoods:
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ROAM Winter Park: 1% additional RETA on all Commercial property; 1.5% additional RETA on all Residential property.
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Rendezvous Winter Park: 1% additional RETA on all Residential and Commercial property.
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Hideaway Station: 0.5% additional RETA on all Residential property.
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Arrow at Winter Park: 0.5% additional RETA on all Residential property, excluding specific lots.
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Idlewild: 1% additional RETA on all Residential and Commercial property.
Fraser’s Transfer Tax Approach
Contrastingly, Fraser generally does not impose a transfer tax on property transactions. However, there is an exception in the Rendezvous Fraser development, where a 0.025% transfer tax is applied. This lower rate makes Fraser an attractive option for those looking to minimize their tax burden when purchasing property.
Property Highlights in Winter Park and Fraser
To assist potential buyers, here are some notable neighborhoods in both towns:
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Lakota: Closest to the resort, offering quick access to skiing and other resort amenities.
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ROAM Winter Park: Features condos, single-family homes with rooftop decks, and upcoming community amenities like a clubhouse/recreation center and pond.
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Rendezvous Winter Park: Located in town with trails right outside your door, optional concierge ski services, a sledding hill, event center, parks and an upcoming clubhouse/recreation center.
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Rendezvous Fraser: Boasts trails and a significantly lower transfer tax and still close to town and Winter Park Resort.
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The Landing: Offers 4 and 5 bedroom homes across the street from the future Gondola, with most properties already sold in the first release.
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Sunnyside Flats: New construction 2 and 3 bedroom condos in Fraser with epic views. These condos are performing well on Airbnb, with the three-bedroom units nearing completion.
Understanding the differences in transfer taxes between Winter Park and Fraser is crucial for making an informed buying decision. Winter Park offers a variety of community amenities and property types but comes with a higher tax rate. Meanwhile, Fraser presents a lower tax environment, particularly attractive in the Rendezvous Fraser area, making it a great option for those looking to reduce their tax exposure.
For more detailed views and to explore these neighborhoods virtually, potential buyers can visit Naz's Neighborhood Guides for drone virtual tours and further property details.