Under Connecticut General Statutes § 12-494, what is the state real estate conveyance tax rate applied to the portion of a residential property's sale price that does not exceed $800,000?
Correct Answer
D) 0.75% of the sale price up to $800,000
Under CGS § 12-494, Connecticut imposes a state real estate conveyance tax at a rate of 0.75% on the first $800,000 of the sale price for most residential properties. This is the base tier of Connecticut's tiered conveyance tax structure.
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