Breckenridge Mountain Master Association
What is the BMMA?
The Breckenridge Mountain Master Association is an association that a few resorts are a part of. It provides a dedicated shuttle service to these resorts and allows all of them to use the amenities located at One Ski Hill Place. Some of these amenities include:
- Bowling Alley (reservations required)
- Exercise Facilities
- Hot Tubs
- Heated Indoor Pool
- Steam Room
- Spa (reservations required)
- Theater with movies to rent (reservation required)
Resorts Part of the BMMA
Upper vs Lower BMMA
The BMMA is broken into two areas: Upper Breckenridge Mountain Planned Community and Lower Breckenridge Mountain Planned Community. These areas are assessed at a different rate annually (see below).
Private Transfer Fee
Whenever a unit is bought or sold that is part of the BMMA, a 1% private transfer fee is required. It is negotiable who pays for the fee. This private transfer fee is above and beyond the 1% transfer tax that is collected by the Town of Breckenridge also at the time of a sale. Therefore, a total of 2% of the gross sales price is required at the time of sale. Both the transfer tax and private transfer fee are negotiable with respect to who pays – Buyer or Seller.
Civil Assessment for Rentals
For those owners that have their unit rented, a civil assessment is collected by the BMMA on an ongoing basis. The fee is 2% of gross rental income. A property manager can collect this income and charge this as an additional fee to guests, or include in the overall rental rate. In either case, the amount must be remitted to the BMMA. If a property manager does not collect this amount, the property owner would be responsible for paying this assessment.
Annual Common Assessment
Each year around August 1st, owners are required to pay a common assessment to help fund the BMMA. The amount is determined by multiplying the assessed value of all real property by the following rate:
- Upper BMMA = 8 mills
- Lower BMMA = 4 mills
Total property value: = $1,000,000
Assessed value (Total value X 7.2%) = $ 72,000
Annual 8 mills assessment (Assessed value X .008) = $ 576