The Real Property Transfer Declaration ask the buyer if any personal property was conveyed in the sale of the home including carpeting, appliances, window covering, etc.
I have always advised my clients to make this number a little high but not to exceed one percent of the sales price.
It has always been my understanding that the county will deduct this number from the purchase price of the home before they establish property taxes for the home.
My business partner advises people to use garage sale prices for this personal property and keep the number as low as possible.
I would love to hear what others think of this situation.
I'm not sure if the form is specific to Colorado, or if it is universal across the states.
Please share your thoughts on this subject.