August 15, 2006

New Tax on Real Estate Buyers Defeated

HB 5744 is defeated in the finance committee

Back in March, I blogged about HB5744, a new tax on home buyers. This bill gave towns the go-ahead to impose still another tax at closing, this time on purchasers of real estate. Towns could charge up to $5 per $1000 of purchase price on the amount over the first $100,000. This would be in addition to the various conveyance taxes levied on the seller in the same transaction. The purpose of the bill was to create a pilot revenue program for community preservation and investment in the Connecticut River and various other watershed regions. The bill, which was strongly opposed by the Connecticut Association of Realtors, was approved by the Environment Committee but defeated in the Finance Committee. I applaud that decision.


	Buyers Tax Proposed
	Previous blog on HB 5744
	http://blog.ctrelocation.com/public/item/126078

Topic Tags: CT Conveyence Tax, HB 5744, Tax on Buyers of Real Estate

by Linda Davis

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by Linda Davis

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