Real Property Transfer Declaration (TD-1000)
The Real Property Transfer Declaration (TD-1000) is a state-required form that informs the county assessor of what occurred when a property was sold and to “help ensure fair and uniform assessments for all property for property tax purposes.” It is typically completed at the closing table. The form is required for a recorded deed that has a documentary fee. The form does not transfer real or personal property; it simply lists the values of each at the time title is transferred.
This document is confidential and only seen by the buyer/seller and/or his agents, the title company, and the Assessor’s Office.
Why Does the Assessor Need this Information?
The assessor’s office is required to value each parcel in the County every two years. They collect the information on all the sales that have occurred in a specific timeframe defined by state statute. They use collected data in order to determine the market value of all properties. It is a similar method that is used by independent appraisers for individual sales.
Why is it Important to the Buyer?
Future assessments of properties will be based not only on sales of similar properties but also on this sale. It is necessary that everything is correctly recorded and reported because County will use those valuations for tax purposes.
This form is mandatory in Colorado and every buyer has to complete the form to the best of their knowledge. It is important that you understand this form well and fill it out properly. It is required by law. Myself as your real estate agent, I cannot assist you with filling out that form.
Copy of the Real Property Transfer Declaration Form (TD-1000)
Instructions on how to Fill Out Real Property Transfer Declaration Form (TD-1000)
FAQ on Real Property Transfer Declaration
Do you have further questions on the form? Below is a detailed FAQ that will help you understand the form better.
Real Property Valuation
As I mentioned above, every parcel in Summit County, Colorado is reappraised every two years in the odd-numbered years. Typically, the data that is used for this is taken from the 18 to 60-month period prior to June 30. As a new, Summit County homeowner you will receive a postcard from assessor office. It is called Notice of Valuation and it is sent on May 1 along with tax notice. You will only get the postcard if the value has changed.
What if I Disagree with the New Value?
As a property owner, you can appeal the value in the given year from May 1 through June 1. Then, the Assessor’s Office will review the appeal. The decision has to be made by June 30 and you will receive Notice of Determination which will explain the decision and further appeal rights.
You can find more information on Assessor’s page HERE.
Please, feel free to contact me via email, contact page or phone number if you need assistance with your appeal.
