Things Get Hectic in Hartford: Conveyance Tax in Jeopardy
by CTNewsjunkie Staff | May 6, 2008 2:50 PM
Posted to State Capitol
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.
Comments (2)
Posted by: Gary Doyens | May 6, 2008 9:38 PM
Good. Let the hated conveyance tax sunset like they promised when they laid it on us several years ago. It was supposed to be temporary but as usual, the greedy municipalities got used to all that money and now, don't want to give it up. Homeowners struggle to pay their mortgages, struggle to pay extraordinary property taxes, and then when you go to upgrade to a larger home, or sell it and retire, you find the city gets one last pound of flesh out of all your hard work - the hidden sales tax that saps your equity by thousands of dollars. It's time to live within your means, city "leaders."
Posted by: on whalley | May 7, 2008 7:53 AM
There is no such thing as a "temporary" tax Gary. Government might change it's name once or twice and maybe hide it with some other taxes or fees to pretend it's expired but as long as it translates to more cash in governments pocket it will never be temporary. Social Security was "temporary." We're going on 70 years of that temporary program and they spent all the money that was promised to be ours. It's like letting government be our savings bank. Only a retarded ape would think that to be a good idea. Why not just let the Mafia hold on to our money for us? Those Italians probably have more interpersonal honor than the politicians do.