Real Estate Transfer Tax - RETT

Creation of the Town of Vail 1% Real Estate Transfer Tax (RETT) in 1980 is considered to be among Vail’s greatest treasures. Funds collected are restricted by town ordinance for acquiring, maintaining and improving local property for parks, recreation, open space and for supporting sustainable environmental practices.

  • 02.1976

    Real Estate Transfer Tax

    Council voted unanimously to place a Real Estate Transfer Tax for the purpose of “real property, open space, recreational parks or employee housing” on the April 1978 Town of Vail ballot.

  • 04.1978

    1% Rejected

    Vail voters rejected the proposed 1% Real Estate Transfer Tax. The vote was 69 to 101.

  • 07.1979

    Town Council Voted

    Rather than return the issue to a public vote, the Town Council voted 6-1 to establish a 1% Real Estate Transfer Tax with a slight modification in use. Proceeds would go towards the “purchase of real property, open space and recreational or park purposes,” but not employee housing.

  • 12.1980

    Ordinance Amended

    Although collections hadn’t yet begun the 1979 RETT ordinance was amended by Council to clarify that each person or persons involved in the transfer are jointly responsible for payment. It also explained the full meaning of transfer, real property, how the public is charged and reemphasized who is exempt and who must pay.

  • 09.1984

    Collection Clarification

    Council amended the RETT ordinance to clarify collection of delinquent accounts.

  • 04.1987

    Cap & Tabor Amendment

    Council established a cap of 1% on RETT unless voted on by town residents. This ordinance is no longer applicable due to passage of the TABOR Amendment, which does not allow the town to raise the 1% tax under the Colorado Constitution. Additionally, the uses of the transfer tax fee were expanded to include the improvement of land.

  • 10.1992

    Dowd Junction Rec Path

    Council passed an ordinance that made it possible to use RETT for “acquisition, improvement and maintenance of real property within the limits of the Town or within a mile of the town boundaries.” This allowed the town to proceed with the Dowd Junction recreation path.

  • 09.1993

    Eagle County Treasurer

    Council passed an ordinance that specified delinquent taxes and assessments be turned over to the Eagle County Treasurer after October 1 of each year.

  • 11.2006

    Environmental Considerations

    Council considers ordinance to expand the use of RETT to include environmental programs and practices.

Kathleen Halloran
Finance Director

Jacque M. Lovato
Accounting Manager

Alex Jakubiec
Revenue Manager