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Connecticut State Conveyance Taxes for Real Estate Increased

L E G I S L A T I V E
Bulletin

CONNECTICUT ASSOCIATION OF REALTORS, INC. www.ctrealtor.com
111 Founders Plaza Ste 1101, East Hartford, CT 06108
(860) 290-6601 FAX: (860) 290-6615

May 5, 2011

REAL ESTATE CONVEYANCE TAXES INCREASED

The following changes are effective for conveyances occurring on or after July 1, 2011. They result from approval by the Legislature and Governor Malloy of Senate Bill 1239 (the state budget).

CAR vigorously opposed these tax increases and commends those 17 Senators and 67 Representatives who voted in opposition to Senate Bill 1239

CAVEAT: Questions remain as to whether SB 1239 is a truly balanced budget since State employee union concessions remain unidentified or agreed to. Accordingly, depending on those outcomes, the possibility exists that the Legislature could revamp these or other taxes in the next several weeks. This is what has been enacted and signed into law as of now.

MUNICIPAL CONVEYANCE TAX
Termination (sunset) date of higher current rate is revoked. The roll-back scheduled for July 1 is permanently cancelled. The practical effect in most towns is the rate continues at 0.25% except for these 18 targeted investment communities where the rate remains at 0.50%: Bloomfield, Bridgeport, Bristol, East Hartford, Groton Hamden, Hartford, Meriden, Middletown, New Britain, New Haven, New London, Norwalk, Norwich, Southington, Waterbury, and Windham and 0.35% in Stamford.

STATE CONVEYANCE TAX
Goes From To

Nonresidential 1.0% 1.25%
Residential

$800K or less 0.5% 0.75%

Portion over 800K 1.0% 1.25%


PROPOSED BUYERS CONVEYANCE TAX
This legislation, originally defeated n Committee, was resurrected as an amendment to Senate Bill 866 (concerning Wine Festivals) and awaits action in the Senate. CAR continues to lobby against it.

New Canaan #2 in US as Best School System for Learning by Great Schools.org

http://www.greatschools.org/slide/4024-new-canaan-ct-2011.gs

Osama Bin Laden is Dead.

Justice Done

6 Mistakes to Avoid While Selling Your Home - My Money (usnews.com)

Good article from US News and World Report

6 Mistakes to Avoid While Selling Your Home - My Money (usnews.com)

New Canaan #2 in US as Best School System for Learning by Great Schools.org

Saxe Middle School in New Canaan

New Canaan is being praised again by GreatSchools.org as one of the nation’s best towns for learning. And to hear Nick Williams tell it, they’re a little better than the California district holding down the top spot.


“They may have better surfing, but if I read the break correctly, we have a better school system,” Williams, chairman of the New Canaan Board of Education, said in a humorous salvo aimed at Manhattan Beach, Calif. New Canaan is listed by GreatSchools as the No. 2 education town with a median home price of $800,000 or more. Manhattan Beach was voted No. 1.

Westport, at No. 5, and Darien, at No. 6, also made the list. Ahead of them were two other California towns: Lafayette and Palo Alto. Rounding out the Top 10 are Orinda, Calif.; Weston, Mass.; Rye, N.Y.; and Cupertino, Calif.

Williams said the No. 2 ranking is great news for New Canaan, which was third in the 2010 GreatSchools rankings. “We’re delighted to be on the list last year, and we’re equally delighted to be on the list this year, especially since we’ve moved up,” Williams said. “It’s an honor for the entire district, the teachers and staff as well as the students and parents

The Daily New Canaan prints article about Denise Gannalo

This interview with myself was published in The Daily New Canaan today

Denise Gannalo, a real estate agent with William Raveis in New Canaan.

New Canaan Agent Loves Coming Home

by Fenella PearsonToday
Photo credit: Fenella Pearson, ASID

Denise Gannalo is one of New Canaan’s biggest fans. She loves the town’s beauty, and the community involvement of the people. “Even though I grew up in Brooklyn, N.Y. and love the city, New Canaan has been my home for 32 years,” she says. “I always enjoy coming home when I’ve been away on a trip.”

Denise knows every nook and cranny of her town, which is hardly surprising since she’s sold homes to many of New Canaan’s residents. In her 29 years as a real estate agent, she’s handled more than half a billion dollars' worth of real estate transactions, which, she points out, “is a lot of homes.” For the past 15 years she’s been the top producer at the William Raveis office in town. She’s also the fourth top Raveis salesperson in Connecticut.

What Denise loves most about her job is the variety. “I design my day each and every morning,” she says. These days her planning is done entirely with new technology. She was one of the first to blog about real estate in New Canaan and she floods the Internet with her property listings. She uses Facebook, Twitter and LinkedIn to grow her business and stay ahead of the curve. "I'm self-taught," she says.

But the thing that has made the biggest difference to the way she runs her business is her phone. “My iPhone has changed my life dramatically,” she says. “I can use it to do anything.” Mobile technology enables her to take videos of new properties and instantly email them to clients. “They can see a new house listing at the same time as I see it,” she says. She can also give buyers and sellers instant updates on new listings and price changes, and it helps her keep an eye on the competition. The best part, she says, is that having all the information she needs in her phone means she can spend more time with clients instead of sitting at her desk in the office.

Denise is quick to point out that new technology can never take the place of real estate agents. “Nobody will buy a house from a picture on a phone or on a computer,” she says. That’s where her thorough knowledge of everything New Canaan has to offer comes into play. “New Canaan is a sophisticated town. People come here for the quality of life, for the town center, for the community and the schools,” she says. “It’s nice to go into town, to the shops, and bump into your neighbors.”

Click on the link to see the actual page in print

Just Listed and Grand Opening this Sunday May 1. 64 Butler Lane

Great Opportunity.
This lovely Colonial is now on the market and will not last long.  4/5 bedrooms in perfect condition set on gorgeous landscaped grounds in private location in convenient neighborhood.  Listed at $1,795,000, please stop by and say hello.  I will be there from 1-3pm

VOTE TODAY ON SIDEWALKS

The high school is open from 6am to 8pm for voting today. A vote NO means safer and healthier streets for New Canaan. Lets start walking again. With the price of gas over $4.25 per gallon, wouldn't it be a good idea to take to the sidewalks. Tell your friends and neighbors to get out and vote.

Contracts Pending in New Canaan

The market is picking up.  5 of my listings are now under contract.
58 Lakeview Listed for $849,000
2 Oakwood Lane (Westport) Listed for $999,000
62 Shagbark Drive Listed for $1,575,000
21 Shady Knoll Listed for $1,899,000
84 Stonehenge Drive Listed for $1,995,000. Sold in one week

24 Acres of New Canaan Land Now Offered at Incredible New Price

If you would like to create your own compound, this incredible offering is now available for sale at $8,900,000 featuring 24 acres of pristine woodland. Located off Huckleberry Hill Road, it is geogeous, unspoiled and private. Call me for more details or check out the website for an overview.

Happy Easter

Easter is a time for hope, renewal of spirit, rekindling of faith and rejoicing in the triumph of the Lord. It is also the time to reach out to our loved ones and come together...

Enjoy your day and time with special people as we look forward to spring....