Real Estate Transfer Assessment

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Some developments within the Town of Silverthorne have a Real Estate Transfer Assessment (RETA) as part of their Restrictive Covenants. RETA was established to provide future owners and residents with certain amenities, services and benefits, in the form of parks, trails, recreation, arts and cultural activities, infrastructure and capital improvements. The Town of Silverthorne does not assess a property tax.

For questions, please contact the Finance Department by email or phone at 970-262-7310.

RETA Neighborhoods and Developments

The neighborhoods/developments which are subject to RETA are:

For a list of street names by development on which RETA is due, view the RETA Address List.

RETA & Utilities

Whether utilities are being transferred or not during the transaction, the RETA must be paid on subject properties including condominiums, townhomes, single family homes and vacant land.

If utilities are being transferred, please review the Town’s Water & Sewer Status Request and RETA Information document.

RETA Calculations and Payment

The assessment (RETA) is based on a percentage of the Consideration [price] paid on the transfer of any portion of or interest in the Property (the "Assessment") and shall be due and payable by the grantee [purchaser] at the time of each transfer and shall apply to each transfer of any portion of or interest in the Property. The Assessment shall be 1% of the Consideration for such transfer.

When a sale or change in ownership occurs in any of the above developments, the deed must be stamped by the Town of Silverthorne with the RETA status prior to recording with the County. Please bring the deed, applicable forms and payment to the Silverthorne Town Hall at 601 Center Circle, Silverthorne, CO 80498 to obtain the stamp.

Status is determined by one of the following:

Definitions

For purposes of the Restrictive Covenants, the following terms shall have the following meanings.

Consideration: Means the actual cash paid or value of the property delivered, or contracted to be paid or delivered, in return for the transfer of ownership or title to any portion of or interest in the Property, including the amount of any liens, mortgages, contracted indebtedness, or other encumbrances given to secure the purchase price, or any part thereof, remaining unpaid on such Property at the time of sale, but excluding the amount of any outstanding lien or encumbrance in favor of the United States, the State of Colorado, or of a municipal or quasi-municipal governmental corporation or district for taxes, special benefits or improvements. Please click here for the Verification of Gross Consideration form

Conveyance: means a conveyance of ownership or title to any portion of or interest in the Property as evidenced by any deed or instrument or writing wherein or whereby title to such Property is granted or conveyed.

Penalties and Liens: all Transfer Assessments imposed by this Covenant, if not paid when due, shall bear simple interest at the rate of eighteen percent (18%) per annum until so paid. The amount of the assessment imposed by this Covenant and interest due thereon is hereby imposed upon the Property or any portion thereof upon the transfer of which said assessment is imposed, and if not paid when due, such assessment and interest, if any, shall constitute a lien on the portion of the Property transferred for the amount thereof, which lien shall continue until the amount thereof is paid or until it is discharged of record by foreclosure of a senior lien or otherwise. Such lien may be foreclosed in the same manner as a deed of trust, through the public trustee or through the District Court of Summit County, Colorado, or by any other means available to the Town under law.

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