Fillable Form Au-263 - Real Estate Conveyance Tax Allocation Worksheet printable pdf download

AU-263

Department of Revenue Services

State of Connecticut

Real Estate Conveyance Tax Allocation Worksheet

Rev. 06/12

Use this worksheet to allocate the total consideration for property located in more than one municipality. Keep the completed worksheet for

your records. Do not submit it to the Department of Revenue Services.

Grantor Name:

Grantor Taxpayer ID No.:

Property Location:

Total Consideration:

This amount must be the same as D5 below.

Town

Assessed Value

Allocated

Ratio

Consideration

Total Consideration

See instructions.

X Column C

Totals: Add Lines 1 through 4.

1.00

Instructions

Example: The sales price of a residential dwelling located in two

municipalities is $1,000,000. The total tax due to the State of

Conn. Gen. Stat. §12-500 requires transferors who transfer

Connecticut is $8,500 (($800,000 x .0075) + ($1,000,000 - $800,000)

property located in more than one municipality to allocate the

x .0125). The tax due on all tax returns filed must add up to the total

conveyance tax among the municipalities. The tax for both the

tax due.

state and the municipality is allocated in proportion to the assessed

First, compute the assessed value ratio and allocate the consideration

value of the real property in each municipality. An allocation

to each municipality.

may not be necessary if the property in one of the towns has no

assessed value; for example, it only transfers common elements

in a condominium.

Town

Assessed

Allocated

Value

Value Ratio

Consideration

Column B: Use the assessed value currently available.

Town A

$825,000

.9396

$939,600

Assessments from the previous revaluation should be used if a

Town B

$53,000

.0604

$60,400

current assessment is unavailable.

Total

$878,000

$1,000,000

Column C: To calculate the assessed value ratio for each

Then, allocate the $800,000 threshold amount to each municipality

municipality, divide the assessed value for a municipality by the

using the assessed value ratio calculated to allocate the consideration.

total assessed value for all municipalities listed.

For Town A, multiply $800,000 by the assessed value ratio of .9396.

Column D: The amount in Column D for each line must be carried

The allocated threshold amount is $751,680. Enter this amount on

to the appropriate line on Form OP-236, Real Estate Conveyance

Line 24a of Form OP-236. The balance of the consideration allocated

Tax Return.

to Town A is entered on Line 24b of Form OP-236.

Tax Allocation for Residential Estates

own A:

Consideration

Rate

Tax

That Exceed $800,000

Line 24a

$751,680

.0075

$5,637.60

Line 24b

$187,920

.0125

$2,349.00

Conn. Gen. Stat. §12-494(b)(2) provides that in the case of any

conveyance in which the real property conveyed is a residential estate,

Total

$939,600

$7,986.60

including a primary dwelling and any auxiliary housing or structures,

for consideration of $800,000 or more, the tax rate is three quarters

For Town B, multiply $800,000 by the assessed value ratio of .0604

of one percent (.0075) on the first $800,000 of consideration and one

The allocated threshold amount is $48,320. Enter this amount on Line

and one quarter percent (.0125) on that portion of the consideration

24a of Form OP-236. The balance of the consideration allocated to

in excess of $800,000.

Town B is entered on Line 24b of Form OP-236.

For a residential dwelling located in more than one municipality where

own B:

Consideration

Rate

Tax

the sales price is more than $800,000, tax must be allocated among

Line 24a

$48,320

.0075

$362.40

the municipalities and the $800,000 threshold must be allocated among

Line 24b

$12,080

.0125

$151.00

all tax returns filed.

Total

$60,400

$513.40

Form Au-263 - Real Estate Conveyance Tax Allocation Worksheet

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