Extension of real estate conveyance tax agreed by Zuzana Fabcinova

Real estate conveyance tax became a question under debate in the House of Representatives on Wednesday. The Democrats had scheduled this special session on taxes earlier, probably not knowing that it was going to be one of the longest session days this year, taking long 17 hours and ending at about 3 a. m., what indicates that making final decision wasn't easy at all. I can't imagine sitting in one room for that long and still being able to think and seriously decide about fate of the rest of the Americans. I suppose that tired legislators weren't willing to do much else but going home and sleeping. Eventually, the final conclusion of the session day came in early morning hours of Thursday, after politicians had voted 82 to 51 to extend municipal portion of the real estate conveyance tax. Approximately15 Democrats voted against the extension, differently from their caucus members.In the USA property tax is usually assessed by local government, at the municipal or county level. The property tax always produces the required revenue for municipalities' tax levies. The extension of the tax brings bigger amount of money for municipalities' budgets, which creates a possibility of using the money of taxpayers for different purposes. On the other hand, increasing of taxes doesn't stimulate economy to work effectively. It was up to legislators to choose which decisions brings better benefits, whether more money in municipalities' budgets, or lower taxes. And it seems like it has already been decided what majority of them prefer.

related story: http://www.courant.com/news/politics/hc-realestate-0612,0,3752911.story

by Zuzana Fabcinova for PocketNews (http://pocketnews.tv)

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posted by Lucia Adamova