The Appeals Court of Massachusetts looked to legislative intent when determining that the specific use of land for a residence of the owner does not convert the property from an agricultural or horticultural use thereby triggering a conveyance tax.
A few months after the permit was granted, a conveyance tax of $61,709 was assessed on a portion of their land.
The building was empty in the mid-1990s after General Motors shut down its ball-bearing manufacturing operation there, but the recent sale has been profitable for the community as well, generating $302,500 to Bristol in
conveyance tax alone.
The HBA of Connecticut is vigorously opposing the doubling of the State's
conveyance tax to offset the state's budget deficit.
And, in Connecticut, the HBA of Connecticut is vigorously opposing the doubling of the state's
conveyance tax on home sales to offset the state's budget deficit.
Transfer taxes can refer to documentary stamp taxes, including real estate
conveyance taxes, controlling interest transfer taxes, or other taxes that are attributable to the acquisition.