The real estate conveyance tax is a regressive, hidden sales tax that ambushes home and commercial property sellers at the time of closing.

The tax was first enacted in the 1960s at a rate of 0.11% of the transaction price.

In recent years, the legislature has approved temporary conveyance tax increases so cities and towns can collect more of your money. The municipal portion of the tax was raised to 0.25% for all towns and 18 targeted towns were given the option to add up to an additional 0.25% tax on home sales in their towns.

This higher hidden tax was supposed to end in June of 2004. But legislators voted to extend it for another year. This continued for the next three years, extending the extra tax for a total of four years. Some legislators are even proposing that it be made permanent!

Significant portions of the municipal real estate sales tax are slated to end on June 30, 2008, bringing the percentage back down to the original 0.11%. Your voice can make the difference.