Give Realtors a Connecticut They Can Sell

 By Sen. Tony Hwang

As your State Senator and a Connecticut Realtor, I want you to know that Democratic state legislators are considering accepting Governor Malloy’s plan to significantly increase taxes on real estate sellers (conveyance taxes).

Governor Malloy’s latest proposed budget includes an increase to the conveyance tax for the sale of real estate. When you sell your home, the state taxes you on the sale price of the property. Currently, for all sales $800,000 or less, sellers are charged a .75% tax on the price. For all sales over $800,000, sellers pay .75% on the first $800,000 and then 1.25% on the overage.  The Governor’s proposed budget would increase the rates to 1% and 2% respectively.

Democratic legislators need to remember the importance of the housing market to the overall state economy.  This new tax will make it even harder and more costly for people to buy or sell a home. The fragile economy will not recover until the housing market and valuation recovers. As legislators and policymakers, we should be making it easier for families to buy a home, not harder and more expensive.

By increasing the sales tax on real estate, state Democrats would effectively penalize homeowners and landlords for selling their property. This is another example of why, even though we live in a wonderful state, people and companies are leaving. Just a day ago, an innovative biotechnology company that was given major state economic incentives decided Connecticut was not the proper ecosystem for them.  The company plans to move to Boston, just as GE did.

Another tax is not the way to entice corporations to move here and stimulate our economy.  It sends the wrong message.

In Fairfield County, the impact is especially devastating as there will be expanded tax increases for the portion of the home sale over $800,000.  This tax would be especially burdensome to our residents due to our highly competitive property values. There are many benefits to the community when real estate sells. Jobs are created.  Banks, home improvement contractors and furniture stores all benefit from a new home sale.  This additional tax would have a negative impact on all of these businesses and the Connecticut economy.
So please, let your voices be heard.  Get active.  Get loud.

Now is the time.

Let the Governor, the Democratic leadership and your state representatives know that taxing home sales will only further damage Connecticut’s already fragile economy.

*Sen. Hwang represents Easton, Fairfield, Newtown, Weston and Westport.  He serves as Co-Chair of the Connecticut General Assembly’s Housing Committee. He can be reached at Tony.Hwang@cga.ct.gov or 800-842-1421. On the web:www.SenatorHwang.com.

Republicans have unveiled a detailed solution to move Connecticut in a new, sustainable, predictable direction.

Our Republican proposal contains no new taxes:

• No real estate conveyance tax hike
• No sales tax hike
• No tax hike on restaurants
• No tax hike on hospitals
• No property tax hikes
• No income tax hikes
• No tolls or mileage taxes
• No home heating oil and propane energy taxes.

Our plan:

• Reduces taxes for retirees
• Restores funding for local education
• Restores funding for core social services for our neediest residents
• Provides property tax and educational funding stability for towns and cities
• Makes structural budgetary changes, such as an enforceable state spending cap, requiring voting on state labor contracts and an effective bond cap
• Prioritizes progress to upgrade and innovate our transportation infrastructure.

All of this will generate a predictable, sustainable and transparent ecosystem where Connecticut businesses can thrive and grow.

Time is of the essence to protect our communities and our most vulnerable and at-risk residents!

The line-by-line details can be found here:

http://ctsenaterepublicans.com/2017/09/our-ct-republican-revised-no-tax-increase-budget/#.WbhMi4KovL8

“Stay Active and Involved”

WESTON – The local delegation to the Connecticut General Assembly of State Representative Adam Dunsby (R-135), State Senator Toni Boucher (R-26), and State Senator Tony Hwang (R-27) invited constituents from Easton, Weston, and surrounding communities to the Weston Library on Wednesday evening to offer an update on a state budget situation that is still not resolved more than two months into the new fiscal year.  Wednesday’s event marked the second town hall forum since the conclusion of regular session in June that the three legislators hosted together.

The legislators explained how the situation had changed since their last budget update, noting the significance of the General Assembly last month passing the SEBAC labor agreement that contained certain structural reforms while extending the current agreement for another ten years.  Each legislator agreed that this union deal “did not go far enough” to address Connecticut’s substantial budget deficit and “took many good options off the table” for future legislatures and governors.

Local residents expressed their concerns about how the budget crisis would impact their families and businesses.  Most prominent among local concerns included the possibility of the state eliminating local education funding and how municipalities could cope with footing the bill for teacher pension costs.

As current First Selectman of Easton, Rep. Dunsby gave a blunt assessment of the governor’s budget proposal and the turmoil it would place on many towns.  He also criticized the plan put forth by House Democrats that proposed raising the sales tax and other taxes and fees because “these kinds of taxes specifically target middle and lower income earners, and tax increases have failed year after year.”

“I am grateful for the opportunity to join my Senate colleagues and listen to how these pressing issues we deal with every day affect the lives of our friends and neighbors in this community; it is important for me to spend as much time in my district as possible,” said Rep. Dunsby.  “Majority leadership needs to understand the direct and immediate impact their revenue grabs have on families and businesses here.  This feedback will help shape my strategies in crafting an alternative budget that will benefit Connecticut taxpayers in every income bracket and convince my colleagues in both parties to do the same.”

“We continue to listen to and stay in close touch with Easton and Weston taxpayers,” said Sen. Hwang.  “Our collective priority is to protect Easton and Weston property taxpayers and to preserve state funding for the towns. We feel that these regular updates on state issues make us better, more responsive legislators.  We will continue to work tirelessly on behalf of all residents in Easton and Weston, and we encourage area taxpayers to stay active, involved and up-to-date on what’s happening in Hartford.  Sign up for my social media updates by sending me an email at Tony.Hwang@cga.ct.gov or by visiting www.SenatorHwang.com. ”

“I’ve been to several town halls throughout my district and heard from so many of my constituents.  What they are telling me is that they are scared and angry.  They are concerned about the drastic cuts Governor Malloy has proposed making to education funding and to towns,” said Sen. Boucher, adding that the legislators talked at length about the legislative process and how budgets get passed. She said that although the Senate is tied and Democrats hold a slim majority in the House, Republicans are still the minority party.

“The majority party that controls the process, the budget, and the votes will not bring our budget alternatives to the floor for a vote and they can’t seem to get the votes they need from their own side of the aisle.  Too bad they forced a vote on a state labor agreement that did not make the changes needed to solve the $5 billion state budget gap.  That agreement has now stalled the budget process,” she said. “Connecticut taxpayers are outraged that we have started the school year without a state budget. They want these issues fixed in a responsible way and they want it fixed now!”

The legislators urged those who could not attend the meeting or did not have a chance to ask a question to contact them at their offices or by email at adam.dunsby@housegop.ct.gov, toni.boucher@cga.ct.gov, or tony.hwang@cga.ct.gov.

State Representative Adam Dunsby represents the 135^th General Assembly district communities of Easton, Redding, and Weston.

 State Sen. Toni Boucher represents the 26^th Senate district communities of Bethel, New Canaan, Redding, Ridgefield, Weston, Westport and Wilton.

State Sen. Tony Hwang represents the 27^th Senate district communities of Easton, Fairfield, Newtown, Weston, and Westport.