Q: My father left his house to my sibling - but it's a part of the whole estate - do I have to pay taxes on it?
A:
Taxes due on the property should be paid by your father's estate. Once title (deed) is passed to the beneficiaries, the beneficiaries assume the tax responsibility. If you are the PR (executor) you may need to "pay" the taxes, but this is paid from the estate, not from your personal accounts.
If you are referring to the estate tax (which means the estate is worth several million dollars), the estate assumes the responsibility for paying the estate taxes. However, the executor should ideally allocate the tax liability based on the FMV of the property each beneficiary is receiving (note: there are exceptions to this rule).
If you are the PR hiring a probate attorney is highly encouraged. If you are only a beneficiary, you likely do not need a lawyer unless a dispute arising about the tax payments.
A: Property taxes will be paid by the estate until transferred to your brother after which he will be responsible for the property taxes. Estate taxes, if any, are paid by the estate and the recipient of a gift or inheritance is not taxed in Colorado or for federal purposes. The only way you individually would be required to pay tax would be if you distributed property as the Personal Representative prior to paying taxes owed by the estate and the IRS or CDOR came after you to collect those taxes from you.
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