The Town of Frisco levies a 1% Real Estate Investment Fee (commonly referred to as a transfer tax) on the transfer of all real property located within municipal limits. The fee is calculated based on the total consideration paid for the transfer of interest in the property and is due upon closing.
The Town Code does not stipulate which party to the transfer, grantor or grantee, is responsible for payment of the fee. Should the fee go unpaid, however, the amount due becomes a lien against the real property, ultimately becoming the responsibility of the grantee.
In addition to the fee, the Town also requires that an official stamp be affixed to the original deed before it is recorded with the Summit County Clerk and Recorder’s Office. To remit the fee, please be sure to complete the Transfer of Real Property Attestment form and forward check payment, the original deed evidencing transfer and the attestment form to Revenue Specialist Chad Most at the Town of Frisco Town Hall, 1 East Main Street, Frisco, CO 80443. For mailed documents, please forward to Town of Frisco, Attention: Revenue Specialist, PO Box 4100, Frisco, CO 80443.
There are exemptions available for qualified transfers and buyers, but they must be officially applied for and approved prior to closing. To apply for an exemption, please complete the REIF Exemption Application form, making sure to include all documentation required, as delineated on the application form itself.
For those who wish to apply for the “Locals’ Exemption,” please keep in mind that qualified purchasers must have worked and/or lived within the Town of Frisco (not just Summit County) for the 12 months prior to applying. Qualified residents and/or employees will also need to meet specific income requirements. The Summit County Housing Authority maintains the most up-to-date Area Median Income for your reference.