Transfer of TitleMEDIUMFREE
Connecticut real estate conveyance tax is:
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Question & Answer
Review the question and all answer choices
A
No conveyance tax
B
State and municipal taxes based on sale price
Correct Answer
C
Only federal tax
D
Flat fee
A flat fee system is not used for Connecticut conveyance taxes. Instead, taxes are calculated as a percentage of the sale price, making this option incorrect.
Why is this correct?
Connecticut imposes both state and municipal conveyance taxes calculated as a percentage of the sale price. The state tax is typically 0.75% on the first value and 1.5% on the excess, with municipalities adding their own tax (usually 0.11%), making option B correct.
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