Conveyance taxes are way down across New England. Maine, 44% less, Vermont 50%. Maine used its taxes to provide moderate income housing, which it certainly needs, so the loss of tens of millions of dollars will hurt. I was just in Portland which has an incredible stock of old (1880-1920) brick buildings, many of which are in great repair but others that have been foreclosed on and need help. The latter are going for a song – I wish I had the money to do something with one of them.
I suspect that states and even towns like Greenwich are about to discover how much they relied on real estate to round out their tax rolls. They’ll miss them, almost as much as New York will miss those taxable Wall Street salaries.