Authorizes the town of Wellfleet to establish a real estate transfer fee.

The bill authorizes the town of Wellfleet to establish a real estate transfer fee of one percent of the purchase price, payable by both the seller and the purchaser. Exemptions include first-time homebuyers who live in the home for at least five years, transfers to the government, charitable organizations, and certain family transfers. The fee is due at the time of transfer and must be paid to the town. The first $50,000 collected annually goes to the Capital Improvement Stabilization Fund, with the remainder deposited into the Wellfleet Affordable Housing Trust.

Authorizes the town of Wellfleet to establish a real estate transfer fee.

The bill authorizes the town of Wellfleet to establish a real estate transfer fee of one percent of the purchase price, payable by both the seller and the purchaser. Exemptions include first-time homebuyers who live in the home for at least five years, transfers to the government, charitable organizations, and certain family transfers. The fee is due at the time of transfer and must be paid to the town. The first $50,000 collected annually goes to the Capital Improvement Stabilization Fund, with the remainder deposited into the Wellfleet Affordable Housing Trust.