The extension of the real estate conveyance tax levied on homeowners when they sell their home is in jeopardy. Local cities and towns that have already seen their increase in state aid drop in recent days are mad about their share of state aid dropping even further than first expected.
The Connecticut Conference of Municipalities that lobbies on behalf of cities and towns said in a statement: “The extension of the tax has gotten caught up in budget politics between legislative Democrats and Republicans. Democrats do not want to vote on the Republicans’ alternative to the second year of the biennial budget – and Republicans will offer their budget amendment on any budget related bill. Because the Conveyance Tax has budget implications, Democratic leaders won’t run it unless Republicans promise not to offer their budget as an amendment. If this continues through Tuesday, passage of the extension during this session is in serious doubt.”
Click here to continue reading CCM’s press release and here to find out how much money your town gets from the conveyance tax. On the other side of the debate are the real estate agents, who are in favor of getting rid of the tax. Click here to read what they have to say about the tax.