Is There a Real Estate Transfer Tax in Crested Butte, Colorado?

Yes. The Town of Crested Butte charges a 3 percent land transfer excise tax, often called the RETT, on the sale price of real property within Town limits when the consideration is more than $500. Half funds open space preservation outside Town limits and half goes to the Town's General Capital Fund. On a $1.5 million home, that is $45,000, so it belongs in your budget from day one.

This post covers the Town of Crested Butte only, based on the Town's Tax Information page and its land transfer excise tax code (Chapter 4, Article 4) as I reviewed them on November 11, 2026. It is general information, not legal or tax advice. Ask your title company to confirm figures for your transaction.

How much is the Crested Butte transfer tax?

The Town code says the tax is 3 percent of the consideration (essentially the sale price) on transfers where the consideration is more than $500. Transfers with no consideration, or consideration of $500 or less, are not taxed.

A few examples, as simple arithmetic on the 3 percent rate:

• $900,000 sale: $27,000
• $1,500,000 sale: $45,000
• $2,448,834 sale (Redfin's median sale price for the town for the three months ending September 2026, from my October market post): about $73,465

Who pays the transfer tax, the buyer or the seller?

The code makes the seller, the purchaser and any other person receiving the transfer jointly and severally liable, which means the Town can look to any of them for payment. How the cost is split in a particular deal is something to settle clearly in your contract. Ask your agent and title company how it will be handled before you sign.

What does the tax pay for?

Per the Town's Tax Information page, half of the RETT revenue goes to open space preservation outside Town limits and the other half goes to the Town's General Capital Fund. The open space side is one reason so much land around town stays open.

When is it due, and what if it is late?

The code says the tax is due when the deed or other transfer document is delivered and becomes delinquent if unpaid within 30 days. Late payment brings a 12 percent penalty plus interest of 1.5 percent per month. Unpaid tax becomes a lien on the property, and the code says deeds cannot be recorded until the tax, penalties and interest are paid. In practice, the code allows title companies, closing agents and others to collect and remit the tax on the taxpayer's behalf, which is how it is usually handled at closing.

What transfers are exempt?

The Town code lists 16 categories of exemptions. Some of the more common ones:

• Transfers to or from a government entity
• Gifts with no consideration other than love and affection or a charitable donation
• Transfers at death, by will or decree of distribution
• Divorce or separation decrees, unless the transfer is to a third party
• Ending co-ownership (partition), unless extra consideration is paid
• Corrective deeds without consideration, minor boundary adjustments and easements
• Transfers that secure a debt, such as a deed of trust, and releases of those
• Certain foreclosure and deed-in-lieu transfers, subject to conditions
• Some business reorganizations, but the code says a transfer of 17 percent or more of the ownership of an entity that holds Town real property is taxable

Exemptions generally require a certificate from the Town Manager or clear language in the document. The Town posts an RETT Exemption Form. Do not assume a transfer is exempt; ask the Town and your attorney.

Does Mt. Crested Butte or the county have the same tax?

This ordinance applies to property within Town of Crested Butte limits. I did not find a comparable transfer tax listed for the Town of Mt. Crested Butte or unincorporated Gunnison County in the sources I checked this week, so confirm with your title company for any address outside town. Statewide, Colorado charges a small documentary fee on recorded deeds: one cent per $100 of consideration over $500, per C.R.S. 39-13-102. On a $1.5 million sale that is $150.

What other Town taxes should owners know?

The Town's page lists a 4.5 percent Town sales tax. For vacation rentals, it lists a 7.5 percent vacation rental excise tax, dedicated to the Affordable Housing Fund, for a total of 20.9 percent in taxes on short-term stays once state, county, RTA and local marketing district taxes are included. If you plan to rent, see my guide to Crested Butte short-term rental licenses.

How should buyers budget for it?

• Ask for a net sheet or estimated settlement statement early, with the RETT shown.
• Settle in writing who pays the RETT in your contract.
• Compare in town and out of town total costs, not only list prices.
• Ask your lender whether any of it can be financed (usually it is a cash closing cost).

How should sellers think about it?

If your sale includes the RETT as a seller cost, it affects your net proceeds. A $1.5 million sale with a 3 percent RETT means $45,000 before commissions and other closing costs. Ask your agent for a net sheet at a few price points.

What is the bottom line?

The Town of Crested Butte's 3 percent transfer tax is a significant closing cost on in-town sales, it helps fund open space, and it must be paid before the deed is recorded. Plan for it in your budget, settle who pays in the contract and confirm any exemption in advance. A local agent can help you see the full cost of buying or selling in town.

Frequently asked questions

What is the real estate transfer tax in Crested Butte?

3 percent of the consideration on sales of property within Town limits, when the consideration is over $500.

Who pays the Crested Butte RETT?

The Town code makes the seller and purchaser jointly and severally liable. The split is settled in the contract.

What does the Crested Butte transfer tax fund?

Half goes to open space preservation outside Town limits and half to the Town's General Capital Fund.

Is there a transfer tax in Mt. Crested Butte?

I did not find one listed in the sources I checked. Confirm with your title company.

Does Colorado have a state transfer tax?

Colorado charges a documentary fee of one cent per $100 of consideration over $500.

Connect with a great real estate agent in Crested Butte, Kelsey Loftis with Crystal Peak Properties, Brokered by eXp Realty. Phone: (970) 784-6768 · Email: kelseyloftis@gmail.com · Website: crystalpeakproperties.com

Sources: Town of Crested Butte, Tax Information page; Town of Crested Butte Municipal Code, Chapter 4, Article 4 (Land Transfer Excise Tax) and Sec. 4-4-50 (Exemptions); C.R.S. § 39-13-102; Redfin Crested Butte (September 2026 data, as cited Oct. 27–28, 2026); reviewed November 11, 2026. Not legal or tax advice.