To the Editor:
When will it end? Governor Malloy’s proposed budget includes an increase to the conveyance tax for the sale of real estate. What does that mean exactly? If you sell your house, the government taxes you on the sale price. Right now in Connecticut, for all sales $800,000 or less, we pay a .75% tax on the sale price. For all sales over $800,000, we pay .75% on the first $800,000 and then 1.25% on the rest. But the governor’s proposed budget wants to increase those rates to 1% and 2%, respectively.