Understanding the Willits Transfer Tax in Basalt: What Buyers Need to Know | Avant Garde Aspen Luxury Real Estate

If you're considering buying property in Willits, Basalt, Colorado, it’s important to understand the Willits Transfer Assessment, a type of real estate transfer tax that applies to many sales in this highly desirable neighborhood. Whether you're purchasing vacant land, a new home, or a commercial space, this fee can affect your closing costs—so here's what you need to know before you buy.

What Is the Willits Transfer Assessment?

The Willits Transfer Assessment is a local fee collected at the time of closing on real estate transactions within the Willits subdivision in Basalt. The assessment amount varies depending on the type of property and its sale price. In nearly all cases, the buyer is responsible for paying this fee at closing.

How Much Is the Transfer Assessment?

Here’s a breakdown of how the Willits Transfer Assessment is calculated:

🏡 For Improved Residential Property (Homes with Building Permits Issued):

• Sales under $250,000 — Exempt (No transfer tax due)

• $250,000 to $449,999 — 0.5% of the sale price

• $450,000 or more — 1% of the sale price

🌲 For Vacant Land:

• Flat rate of 0.5%

🏢 For Improved Commercial Property:

• Flat rate of 1%

Example Scenarios

• Buying a home for $300,000? Expect to pay $1,500 at closing (0.5%).

• Purchasing a commercial space for $1.5 million? Your transfer fee will be $15,000 (1%).

• Acquiring a vacant lot for $500,000? The fee would be $2,500 (0.5%).

Why Does the Transfer Assessment Exist?

The Willits Transfer Assessment helps fund infrastructure and community improvements in the neighborhood. It’s a common tool in resort and master-planned communities across Colorado to support public amenities and ongoing maintenance.

Pro Tip for Buyers

Be sure to factor the transfer tax into your total closing costs when purchasing in Willits. If you're working with a local real estate agent familiar with the area, like the team at Avant Garde Aspen, they’ll ensure you’re aware of all the details upfront so there are no surprises on closing day.

Looking to buy or sell in Willits, Basalt?
Reach out to Stephanie Kroll at Avant Garde Aspen—your local expert in Basalt real estate and the Roaring Fork Valley market. Whether it’s a modern mountain home or a development opportunity, I’m here to help you navigate the process with clarity and confidence.