Under Connecticut law, who is legally responsible for paying the Connecticut real estate conveyance tax at the time of closing?
Correct Answer
A) The seller, as the party transferring the property
Under CGS § 12-494, the Connecticut real estate conveyance tax is imposed on the grantor (seller) — the party conveying the property. The tax is paid by the seller at the time the deed is recorded with the town clerk.
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A Connecticut assessor is preparing the annual grand list for a municipality. Which of the following best defines the 'grand list' in the context of Connecticut property taxation?
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Maria sells her single-family home in Hartford for $600,000. When calculating the Connecticut state conveyance tax, which rate applies to the entire sale price?