Authorizes Nantucket to impose a real estate transfer fee for affordable and workforce housing.

The bill authorizes the town of Nantucket to impose a real estate transfer fee of 0.5% of the purchase price on the transfer of any real property interest. The fee is intended to fund affordable and workforce housing and related capital improvements. The fee is the liability of the seller and is due at the time of transfer. Certain transfers are exempt from the fee, including those made to the government, transfers made as gifts, and transfers made to a corporation or partnership at the time of its formation.

Authorizes Nantucket to impose a real estate transfer fee for affordable and workforce housing.

The bill authorizes the town of Nantucket to impose a real estate transfer fee of 0.5% of the purchase price on the transfer of any real property interest. The fee is intended to fund affordable and workforce housing and related capital improvements. The fee is the liability of the seller and is due at the time of transfer. Certain transfers are exempt from the fee, including those made to the government, transfers made as gifts, and transfers made to a corporation or partnership at the time of its formation.