BUYERS BEWARE!

In search of money for “Community Green Funds,” legislators and special interest groups are calling for up to a full, one per cent tax on purchasers of CT real estate.  The taxes are part of Senate Bills 46 and 834. 

The CT Association of REALTORS® strongly opposes conveyance taxes. The association just mailed an exhortation to all legislators on January 14 to reduce government spending to restore fiscal solvency and a long-needed real estate recovery. 

Ralph Eno, first selectman of Lyme, says a conveyance tax on the buyer’s side makes sense since the existing ones on sellers have been a problem, especially for seniors. Advocates hailed the bill’s virtue as a “local option” for each town to exercise, and for its $150,000 exclusion to protect first-time buyers.  Senator Ed Meyer of Guilford has also proposed a 1% buyers tax in SB 46 (without the exclusion).  Those speaking in favor of SB 834 at Monday’s public hearing before the Environment Committee included the CT Audubon Society, the CT Conference of Municipalities, the League of Conservation Voters, the CT Land Trust Alliance (the “voice for Land Trusts”), and the Nature Conservancy.

Buyers, tell your legislators to JUST SAY NO to a tax on your home purchase!

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