Authorizes the town of Truro to impose a 0.5% real estate transfer fee on property sales.

This bill authorizes the town of Truro to impose a 0.5% real estate transfer fee on the sale of any real property. The fee is the liability of the purchaser and must be paid to the town. Half of the collected fees go to the Town’s Capital Improvement Stabilization Fund, and the other half goes to the Town’s Affordable Housing Trust Fund. Exemptions include transfers to the government, transfers without additional consideration, transfers of convenience with consideration under $100, and transfers between family members or for charitable purposes.

Authorizes the town of Truro to impose a 0.5% real estate transfer fee on property sales.

This bill authorizes the town of Truro to impose a 0.5% real estate transfer fee on the sale of any real property. The fee is the liability of the purchaser and must be paid to the town. Half of the collected fees go to the Town’s Capital Improvement Stabilization Fund, and the other half goes to the Town’s Affordable Housing Trust Fund. Exemptions include transfers to the government, transfers without additional consideration, transfers of convenience with consideration under $100, and transfers between family members or for charitable purposes.