Federal tax reform could affect Connecticut realtors

<p>Connecticut realtors are looking into how federal tax reform could affect their businesses.</p>

News 12 Staff

Dec 4, 2017, 8:32 PM

Updated 2,426 days ago

Share:

Connecticut realtors are looking into how federal tax reform could affect their businesses.
While state officials believe either proposed tax bill -- one each in the U.S. House of Representatives and Senate -- would potentially deter future homeowners from moving to higher-taxed states like Connecticut, one realtor does not necessarily agree.
Amy Barsanti, a realtor in Darien, says the fundamental reasons people buy houses -- to provide for their families, to be in an ideal location for work and education -- will keep people coming to Connecticut.
"Those underlying needs are not going to change," she says, "How much they consume and how they view housing, how much is enough -- that might temper."
Because the House bill could potentially take away much of the ability to write off mortgage interest on new loans of more than a half-million dollars, Barsanti says people may begin to look for smaller, less expensive houses.
On the other hand, Sen. Chris Murphy says fewer people will come to Connecticut and the economy will take a hit under either bill.
"With a lot of people coming in and out of the state...we need a fluid real estate market," Murphy says. "And if all of these increased taxes on homeowners freezes the real estate market, that's really harmful for Connecticut's economy."
If the bill is unable to pass, Murphy says he hopes Republicans will meet with Democrats to create a bipartisan bill.


More from News 12
1:49
Bridgeport church reported finding hundreds of hypodermic needles on parish property this week

Bridgeport church reported finding hundreds of hypodermic needles on parish property this week

1:34
Sunny this weekend, chance of storms next week

Sunny this weekend, chance of storms next week

2:13
‘You know who I am?’ Police video shows Bridgeport councilman’s ‘combative’ traffic stop

‘You know who I am?’ Police video shows Bridgeport councilman’s ‘combative’ traffic stop

0:26
Boat Camp introduces kids to the beauty of Long Island Sound

Boat Camp introduces kids to the beauty of Long Island Sound

0:16
Police: Norwalk man arrested for committing lewd acts against a family member in San Diego

Police: Norwalk man arrested for committing lewd acts against a family member in San Diego

2:33
Can swimming become dangerous due to extremely high water surface temperatures?

Can swimming become dangerous due to extremely high water surface temperatures?

0:42
 Real Deal: Natural gas, rent and medical care continue to increase in Connecticut

Real Deal: Natural gas, rent and medical care continue to increase in Connecticut

0:20
Little boy helps rescue dog in Stratford

Little boy helps rescue dog in Stratford

0:51
Norwalk celebrates 34th anniversary of the Americans with Disabilities Act

Norwalk celebrates 34th anniversary of the Americans with Disabilities Act

1:57
'It's powerful.' NHL stars participate in Stamford fundraiser to raise awareness of suicide prevention

'It's powerful.' NHL stars participate in Stamford fundraiser to raise awareness of suicide prevention

2:08
63rd annual summer book sale begins at Pequot Library in Southport

63rd annual summer book sale begins at Pequot Library in Southport

0:31
Shelton homeowner faces charges after illegal fireworks cause fire to escalate

Shelton homeowner faces charges after illegal fireworks cause fire to escalate

1:57
Bridgeport Police Department swears in dozens of new recruits

Bridgeport Police Department swears in dozens of new recruits

2:00
Harris campaign highlights challenges female candidates face in CT

Harris campaign highlights challenges female candidates face in CT

0:14
Officials: West Nile virus confirmed in mosquitoes collected from Danbury testing site

Officials: West Nile virus confirmed in mosquitoes collected from Danbury testing site

0:56
Free life jacket station unveiled at Lake Simmons in Greenwich

Free life jacket station unveiled at Lake Simmons in Greenwich

0:43
Connecticut resident awarded Caregiver of the Year award at BrightStar Care in Norwalk

Connecticut resident awarded Caregiver of the Year award at BrightStar Care in Norwalk

0:32
Connecticut State Police rescue ducks from Interstate-91 in Hartford

Connecticut State Police rescue ducks from Interstate-91 in Hartford

2:46
Main Street Connecticut: Showcasing the best of Weston

Main Street Connecticut: Showcasing the best of Weston

0:56
Norwalk unveils new playground at Flax Hill Park

Norwalk unveils new playground at Flax Hill Park