Massachusetts H4300 establishes a real property transfer fee in Chatham to fund affordable and attainable housing.

Massachusetts H4300 introduces a real property transfer fee in Chatham, set at 0.5% of the purchase price. The fee applies to transfers of real property interests for a consideration of $2 million or more. Exemptions include transfers to the government, gifts without consideration, and intra-family transfers. The fee generates revenue for the Housing Fund, aimed at creating and preserving affordable and attainable housing in Chatham. The fee is initially set for ten years, renewable by a majority vote at Town Meeting.

Massachusetts H4300 establishes a real property transfer fee in Chatham to fund affordable and attainable housing.

Massachusetts H4300 introduces a real property transfer fee in Chatham, set at 0.5% of the purchase price. The fee applies to transfers of real property interests for a consideration of $2 million or more. Exemptions include transfers to the government, gifts without consideration, and intra-family transfers. The fee generates revenue for the Housing Fund, aimed at creating and preserving affordable and attainable housing in Chatham. The fee is initially set for ten years, renewable by a majority vote at Town Meeting.