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 |  Taxes are nothing new to consumers, but the tax to home sellers at closing is a particularly troubling one. The real estate conveyance tax is hidden or invisible to the majority of home sellers until too late in a real estate transaction to adjust for, by for instance raising the cost of the house to cover the additional fees. But the hidden tax still has to be paid by the seller. The invisible tax on home sales costs sellers about $3,000 on a $300,000 house and is paid at the time of closing. The tax is paid to municipalities and to the state of Connecticut. The invisible tax robs hard-earned equity from seniors and home sellers who have paid off a significant portion of their mortgage and are expecting to reap the benefits of their hard work at closing. And the tax is a double-dip for towns that have already collected property tax on the home. Conveyance Tax Radio Ad
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