S2697 — Allows a municipality to set its own conveyance tax rate for residential properties sold in excess of $900,000.00 at $10 per $500. Provides collected taxes to be in a restricted account and distributed within 2 years for affordable housing.

S2697 — Allows a municipality to set its own conveyance tax rate for residential properties sold in excess of $900,000.00 at $10 per $500. Provides collected taxes to be in a restricted account and distributed within 2 years for affordable housing. · Informed CitizenryThis bill proposes allowing local municipalities greater control over a specific real estate tax. If adopted, it would permit towns to set their own conveyance tax rate on residential properties th…Open in Informed Citizenry