Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Transfer Tax topic
No spam. Unsubscribe anytime.
Council pauses Agricultural Conservancy Trust transfer‑tax rule pending solicitor review
Summary
The Ag Trust proposed a rule and form to standardize how transfer taxes are calculated; the council continued the item for legal review after residents and staff raised timing and equity concerns about 'contemporaneous' transfers and exemptions.
Don McNaughton, chair of the Little Compton Agricultural Conservancy Trust, proposed codifying transfer‑tax assessment procedures and adding a standard form for buyers and sellers to submit when requesting a municipal lien certificate. The Trust said the revision would improve consistency and allow the trust to confirm calculations before tax payment and recording.
Karen Browning, counsel for the Ag Trust, explained that the state enabling act calculates the transfer tax on "aggregate collective conveyances" and includes language about contemporaneous transfers. She said many past filings have contained inconsistent calculations and that the proposed form and process would help ensure "we will be looking at this very carefully" to comply with state law and treat taxpayers equitably.
Town staff and several council members raised operational concerns about timing, turnaround for Ag Trust review and how the change would affect closings; the town clerk expressed worry that closings could be delayed if the new form and sign‑off were not integrated with municipal lien‑certificate timing. After discussion, the council voted unanimously to continue the proposal pending the town solicitor’s review and recommendations.
