Certain CT state residents who sold a home in 2021 or later for more than $2.5 million may claim a tax credit against their state income tax liability based on the amount of real estate conveyance tax paid at the 2.25% rate. Eligible taxpayers may use the conveyance tax payment as the basis for the property tax credit for three years, beginning in the third tax year after the year in which the conveyance tax was paid. Only state residents are eligible for the tax credit under state law