Eastham authorizes a 3% real estate transfer fee to fund affordable housing and wastewater stabilization.

The bill authorizes the town of Eastham to impose a 3% real estate transfer fee on property sales over $1. The collected funds will be deposited into the Town's Affordable Housing Trust Fund and/or Wastewater Stabilization Fund. Exemptions include first-time homebuyers who reside in the property for at least five years, transfers between family members, and transfers to government entities or charitable organizations. The fee is the liability of the purchaser, and the town can enforce payment through legal action. The fee and exemptions can be amended by a two-thirds vote of the town meeting.

Eastham authorizes a 3% real estate transfer fee to fund affordable housing and wastewater stabilization.

The bill authorizes the town of Eastham to impose a 3% real estate transfer fee on property sales over $1. The collected funds will be deposited into the Town's Affordable Housing Trust Fund and/or Wastewater Stabilization Fund. Exemptions include first-time homebuyers who reside in the property for at least five years, transfers between family members, and transfers to government entities or charitable organizations. The fee is the liability of the purchaser, and the town can enforce payment through legal action. The fee and exemptions can be amended by a two-thirds vote of the town meeting.