Realtors Want Special Session Canceled;
CCM Still Pushing Hard For Extension of Conveyance Tax
CCM Still Pushing Hard For Extension of Conveyance Tax
By
Christopher Keating
on May 22, 2008 2:07 PM | Permalink | Comments
The state's Realtors are not giving up.
Twelve Realtors came to the state Capitol complex Thursday to call for the cancellation of a special session that is designed to extend the municipal real estate conveyance tax.
Since the tax generates about $40 million per year for cities and towns, the Connecticut Conference of Municipalities has lobbied hard for the extension of the tax. The increased tax was enacted in 2003 to fill a budget gap under then-Gov. John G. Rowland, and the Realtors believed it would "sunset'' after 15 months. But the tax has been extended three times by the legislature and is now finally scheduled to sunset on June 30.
"You have asked every constituency in the state to make do with less in the coming year - nursing homes, mental health care providers and programs for the disabled,'' Realtor Ken DelVecchio wrote to Senate President Pro Tem Donald Williams. "Our public schools are postponing construction, and new programs have been cancelled. Yet, you are not expecting the same from our municipalities.''
"With the price of gasoline skyrocketing, utilities and food prices on the rise, and the housing market in trouble, it is wrong to ask Connecticut's homeowners to pay higher taxes,'' he wrote. "Please consider the impact of raising taxes for the state's struggling families and cancel this proposed special session.''
Despite the longrunning pleas by the real estate agents, lawmakers have repeatedly said that they intend to extend the conveyance tax. The session is expected to be held in early to mid-June.
Christopher Keating
on May 22, 2008 2:07 PM | Permalink | Comments
The state's Realtors are not giving up.
Twelve Realtors came to the state Capitol complex Thursday to call for the cancellation of a special session that is designed to extend the municipal real estate conveyance tax.
Since the tax generates about $40 million per year for cities and towns, the Connecticut Conference of Municipalities has lobbied hard for the extension of the tax. The increased tax was enacted in 2003 to fill a budget gap under then-Gov. John G. Rowland, and the Realtors believed it would "sunset'' after 15 months. But the tax has been extended three times by the legislature and is now finally scheduled to sunset on June 30.
"You have asked every constituency in the state to make do with less in the coming year - nursing homes, mental health care providers and programs for the disabled,'' Realtor Ken DelVecchio wrote to Senate President Pro Tem Donald Williams. "Our public schools are postponing construction, and new programs have been cancelled. Yet, you are not expecting the same from our municipalities.''
"With the price of gasoline skyrocketing, utilities and food prices on the rise, and the housing market in trouble, it is wrong to ask Connecticut's homeowners to pay higher taxes,'' he wrote. "Please consider the impact of raising taxes for the state's struggling families and cancel this proposed special session.''
Despite the longrunning pleas by the real estate agents, lawmakers have repeatedly said that they intend to extend the conveyance tax. The session is expected to be held in early to mid-June.