Hotel Jerome owners sue over Aspen tax | AspenTimes.com

Hotel Jerome owners sue over Aspen tax

Aspen Times staff report
Aspen, CO Colorado

ASPEN – The owners of the Hotel Jerome are suing the city of Aspen, claiming that they should not have to pay the city’s Real Estate Transfer Tax from a transaction that closed in July.

Jerome Ventures LLC, which owns the historic Main Street hotel, filed its complaint Monday in Pitkin County District Court.

The complaint says Jerome Ventures is exempt from paying the tax because it was issued a deed in lieu of foreclosure from the previous owner of the Hotel Jerome, LCP-Elysian Aspen Owner LLC. However, in July the city attorney informed Jerome Ventures that it’s obligated to pay the transfer tax.

The suit seeks attorney’s fees and legal costs, and asks the court to rule that Jerome Ventures does not have to pay the transfer tax.