The Legislature's Finance Committee voted 29-to-21 yesterday to overturn the scheduled reduction in the municipal conveyance tax. Current law says that a 2003 emergency increase in the tax expires on June 30, 2008. Voting within twenty-four hours after thousands of anti-tax petitions were delivered by REALTORS® at the Capitol, this is a momentary setback in the campaign to save the current law's "sunset" provision. On the other hand, the Committee debate, and the fact that six Democrats joined with 15 Republicans to oppose the extra tax, is a positive sign. The Substitute was a change from the original bill, which made the extra conveyance tax permanent. Instead, the Committee-approved bill extends the higher rates to June 30, 2010. The bill, Substitute HB 5885, still MUST go to the full House and Senate.

Contact your elected officials now and pressure them to stop the double taxation on home sellers. Go to http://www.myhouse-mymoney.com/ - a website CAR has created as part of an aggressive media campaign launched to convince lawmakers to sunset the extra municipal conveyance tax. When visiting this website, you can also listen to the three different radio spots that began airing throughout the state on March 3.

source: CT Assoc. Realtors