11/20/2023 0 Comments Norwalk ct real estate conveyance tax![]() Bartlett said that a response to proposed increases, including the nearly 40 percent hike recently requested by United Illuminating, would probably be the first major issue of the upcoming session of the General Assembly. He has said the feedback he received during recent talks across the state has convinced him that the state is ready for a reform package. Property tax reform has been a major issue in each Democratic gubernatorial campaign since 1994, when then-state comptroller Bill Curry of Farmington was running for the state's highest office. "Right now it's hitting one industry, and that's wrong," the senator added.ĭanbury Mayor Mark Boughton, a former state representative, said during last week's forum at the Holiday Inn that perhaps municipalities in the region could develop a tax plan to help ease the financial burden on municipal budgets. Freedman, whose district includes part of Bethel, said that she doesn't want to keep the real estate conveyance tax at 0.25 percent. "There's got to be some way of making it written in stone," she said of the state's potential permanent commitment to offset revenue that the towns now receive from car property taxes. ![]() Judith Freedman (R-Westport) said she believes that "discussion" about the car tax would be a "good first step" toward providing more assistance for municipalities. Some municipal leaders have been wary of that plan, which was first introduced during the governor's budget address last February, because they're not confident that the state would keep its commitment to providing funding to offset the revenues that are paid for car taxes in each of the 169 municipalities. Rell has said that she will again introduce an elimination of the municipal car tax during the session that starts Jan. Recent economic analysis shows that Connecticut's economic growth has lagged behind the national average for about 15 years. Rell said last year that executives from companies across the state have said that they need the corporate tax exemptions to remain competitive.Īnalysts have stated that Connecticut is a high cost-of-living state, which has been a deterrent to job growth. John Rowland, for providing more corporate tax exemptions rather than enacting major property tax reform, which some say would be more helpful in generating more jobs. Jodi Rell, a longtime Brookfield resident, and her immediate predecessor, former Gov. Bartlett, who is the first Bethel resident to be elected to the General Assembly since 1974, said that he hopes lawmakers will make revisions in property taxes for municipalities and the state education funding formula in an effort to provide long-term relief to the towns and cities. State Rep.-elect Jason Bartlett (D-Bethel) said that he was endorsed by real estate groups during the recent campaign and that he has "pledged to turn back the clock and go to the previous level" of 0.11 percent, or $1.10 per $1,000 in value. The news release from HVCEO stated that the funds from the conveyance tax help provide public services that boost real estate values. ![]() "The HVCEO even has sent a letter to lawmakers refuting the arguments for changing it back," he added. ![]() Murphy, who was a real estate associate with William Pitt in Danbury before being elected first selectman in 2003. "The effect it has on the real estate market is zero," said Mr. It was to revert to that level in June 2005, but state lawmakers extended the deadline until June of next year. The tax had been 0.11 percent as recently as 2003, which translated into a payment of $440 for a home that sold for $400,000. At its current level, the tax results in a payment to the host municipality of $1,000 on a residential property that sells for $400,000. The regional planning agency for the Greater Danbury area stated in a news release that the tax-which is 0.25 percent of the sales price for most properties, and paid by the seller-should be made permanent because it is a vital revenue source for municipalities. "For our town, there are 281,000 reasons for it to continue," Brookfield First Selectman Jerry Murphy said in referring to the town's revenue from the higher real estate conveyance tax during an interview after the breakfast meeting in Danbury last Friday sponsored by the Housatonic Valley Council of Elected Officials (HVCEO).
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