Establishes a transfer fee on real property sales on Martha's Vineyard to fund housing trusts.

The bill establishes a transfer fee on real property sales on Martha's Vineyard to fund housing trusts. Towns or groups of towns can establish a fee on transfers of real property interests. The fee is between 0.5% and 2% of the purchase price over an exemption threshold. Certain transfers are exempt, like those for less than $1 million. The fee is paid by the purchaser and deposited in a housing trust fund. Towns not part of a regional housing trust within two years must deposit fees in their municipal affordable housing trust fund.

Establishes a transfer fee on real property sales on Martha's Vineyard to fund housing trusts.

The bill establishes a transfer fee on real property sales on Martha's Vineyard to fund housing trusts. Towns or groups of towns can establish a fee on transfers of real property interests. The fee is between 0.5% and 2% of the purchase price over an exemption threshold. Certain transfers are exempt, like those for less than $1 million. The fee is paid by the purchaser and deposited in a housing trust fund. Towns not part of a regional housing trust within two years must deposit fees in their municipal affordable housing trust fund.