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The Colorado Real Property Transfer Declaration (TD-1000) form has recently been revised and updated. The TD-1000 provides essential information for the county assessor to help ensure that real property assessments for property tax purposes are fair and uniform. Any conveyance documents, such as deeds, that are subject to the documentary fee submitted to the county recorder for recording must be accompanied by a TD-1000 form.
Every two years, county assessors must appraise all the real estate in the State of Colorado. The sales prices of sold properties, taken from the deeds, are used in that appraisal process. Sometimes there may be circumstances surrounding a sale that provides a selling price that is not truly representative of a property’s value. For instance, this may occur in a transaction where the property sales price is discounted for a family member. Appraisers will then typically need to adjust a sale price when these unique circumstances exist, or possibly disqualify these sales. The TD-1000 declaration form is used to alert an assessor’s office concerning sales that may not accurately reflect a property’s value.
This declaration form must be completed and signed by either the grantor (seller) or grantee (buyer). It is also important to note that the TD-1000 form is not recorded, and is kept confidential and not available for public inspection at the county assessor’s office.
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Date of contract. (As noted in the form instructions: “This allows the assessor to establish the exact date of the “meeting of the minds” concerning the date the sales price was agreed upon. Even though only “closed” sales are used to set values, this information may help the assessor to eliminate atypical sales conditions.”)
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Contracted price (if different from final sales price) has been added to the form.
- Adding a notation in the form that states: “If no personal property is listed, the entire purchase price will be assumed to be for the real property.”
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Type of Sale. Checkboxes to choose either: “Builder (new construction); Private (for sale by owner); Public (MLS or Broker Representation); or Other (describe the other type of sale)”.
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Type of Financing. (Adding a checkbox for: ““None” (all cash or cash equivalent)”.
A new question asking: “Was an independent appraisal obtained in conjunction with this transaction?”
It is well-advised to review this document prior to closing so that its completion can be done in a complete, thorough and accurate manner for submission to the county assessor’s office.
Remember, if the TD-1000 form is not completed and submitted when the conveyance documents are presented for recording, the county assessor will send a compliance notice. Then, if a completed and signed form is not returned to the assessor within 30 days of notice, the assessor may impose a penalty of $25.00 or 0.025% (0.00025) of the sale price, whichever is greater.
Statutory information regarding the purpose and use of this form can be found in Sections 39-14-102, 39-5-121.5, and 39-13-102, C.R.S.
The TD-1000 form and instructions can be found under the “Forms” tab on the Colorado Division of Property Taxation website, and specifically at these links:
The form and instructions can also be found on the local county assessor websites.
Statutory information regarding the purpose and use of this form can be found in Sections 39-14-102, 39-5-121.5, and 39-13-102, C.R.S.
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