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Lawmakers Looking at Real Estate Fee to Fund Open Space

February 8, 2019 | Reprints | Unlock Link | Print

State lawmakers are looking at allowing municipalities to assess transaction fees of up to 1 percent on real estate sales over $150,000, in order to maintain open space, clean up brownfields or fund other environmental projects.

The General Assembly’s Environment Committee heard the proposal on Monday, Feb. 4, the Hartford Courant reported.

The proposal drew praise from municipal leaders and opposition from real estate industry figures.

The median sale price for a single-family home in every Connecticut county in 2018 was over $150,000, according to data from The Warren Group, publisher of The Commercial Record. Windham County had the lowest median price, at $191,400, while Fairfield County had the highest at $451,750. The state median sale price in 2018 was $258,000.