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Conveyance Tax

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Conveyance Tax
A tax imposed on the transfer of real estate property.

Notes:
Usually there are two conveyance taxes - municipal and state.
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Driven by better tax collections, strong real estate conveyance tax receipts, and prudent revenue estimates, audited results for fiscal 2005 show a general fund operating surplus at a record $11 million, contributing to the unreserved general fund balance at a strong 13.
Fitch Rates Norwalk, Connecticut's $25MM GOs 'AAA'; Stable Outlook by Business Wire
5 million appropriation in general fund balance is budgeted for fiscal 2006, officials do not currently anticipate such use given the stability in property tax collections and the strong performance of real estate conveyance tax receipts.
Fitch Rates Norwalk, Connecticut's $23MM GOs 'AAA'; Stable Outlook by Business Wire
Remedial measures to preserve fiscal balance include health insurance consolidation, energy management and conservation efforts, and revenue diversification in the form of a real estate conveyance tax.
Fitch Rates Norwalk, Connecticut's $39MM GOs 'AAA'; Stable Outlook by Business Wire
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