State and Municipal Real Estate Conveyance Tax Rate in Connecticut at a Glance

Sellers should get a better picture of the approximate proceeds from the sale of their property and laying out the numbers specific to conveyance taxes would be helpful. To simplify the Senate Bill No. 501, Public Act No.10-1 wherein Subsection (a) of Section 12-494 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2010):

Residential                                    Municipal Tax                         State Tax                               Total

 Purchase Price $800,000 or

    less but more than $2000                  0.25%                                    0.75%                                 1%

Portion over $800000                            0.25%                                   1.25%                                 1.5%

The authority for certain designated municipalities, known as target investment communities, to impose an additional municipal real estate conveyance tax rate (at a rate of up to 0.25%) is still in effect. Targeted Investment communities include the towns of  Bridgeport, Bristol, East Hartford, Groton, Hamden, Hartford, Meriden, Middletown, New Britain, New Haven, New London, Norwalk, Norwich, Southington, Stamford, Waterbury and Windham.  NOTE: Check with your lawyer or town if your property is within the designated municipalities.

Transactions exempted from conveyance taxes such as foreclosure by sale or deed in lieu of foreclosure is outlined under the Public Act No. 10-1


About Maria Gilda Racelis

I am a full-time realtor and a no-nonsense individual when it comes to rendering services to my clients. I take my job and the responsibility it entails seriously. My clients come first. I ensure that they know and feel I am working for their best interest. However, I do not carry out tasks to compromise my principle. I conduct my business with pride, honesty and integrity. I will do whatever it takes to meet their goals while adhering to my principle. "And the connection I make with the clients throughout the process, that to me is how I define success." Buying and selling homes can be very stressful. It is my job to make the process easy and fun as can possibly be for my clients. I take personal gratification from the smile on the faces of highly satisfied clients. I have amassed 100% positive and rewarding testimonials from my clients after many years of experience in real estate business. To enhance competency in the field for my clients' benefit, I continually seek to further my knowledge and expertise. With this in mind, I hold the following designations and expect to add more as the need for them arise. If you are looking to work with a competent professional realtor who will put the best foot forward for your best interest, you have just read her profile. I am always available to listen to your concerns and questions. Please do not hesitate to contact me anytime.
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