Aspen property sales drop following tax changes
ASPEN — Real estate sales in Pitkin County are down sharply this year and Aspen-area agents are blaming changes to federal capital-gains tax laws.
County officials say sales were down $15 million in January, or 15 percent, from January 2012.
The sales slump continued in February, with dollar volume down another $9 million, or 20 percent.
According to the local newspaper, the 10 percent increase in the capital-gains tax this year is being blamed for taking a toll on sales.