Massachusetts S1434 proposes a fee on real property transfers to fund affordable housing and incentivize zoning reform.

Massachusetts S1434 introduces a real estate transfer fee to support affordable housing initiatives and encourage zoning reforms. Cities and towns with established housing funds can impose this fee on property transfers. The fee aims to generate revenue for affordable housing creation and preservation, particularly benefiting low- and moderate-income households. Certain transfers, such as those under $2 million or involving government entities, may be exempt. The bill also outlines procedures for appealing fee amounts and denials of exemptions.

Massachusetts S1434 proposes a fee on real property transfers to fund affordable housing and incentivize zoning reform.

Massachusetts S1434 introduces a real estate transfer fee to support affordable housing initiatives and encourage zoning reforms. Cities and towns with established housing funds can impose this fee on property transfers. The fee aims to generate revenue for affordable housing creation and preservation, particularly benefiting low- and moderate-income households. Certain transfers, such as those under $2 million or involving government entities, may be exempt. The bill also outlines procedures for appealing fee amounts and denials of exemptions.