Massachusetts S2845 amends the Affordable Housing Act to allow cities and towns to impose a transfer fee on real property sales.

Massachusetts S2845 amends the Affordable Housing Act by allowing cities and towns to impose a transfer fee on the sale of real property. The fee is intended to fund affordable housing initiatives. The bill specifies that the fee must be paid by the seller and outlines various exemptions, such as transfers below a certain monetary threshold or transfers between family members. The fee can be set by the city or town legislative body or a regional affordable housing authority.

Massachusetts S2845 amends the Affordable Housing Act to allow cities and towns to impose a transfer fee on real property sales.

Massachusetts S2845 amends the Affordable Housing Act by allowing cities and towns to impose a transfer fee on the sale of real property. The fee is intended to fund affordable housing initiatives. The bill specifies that the fee must be paid by the seller and outlines various exemptions, such as transfers below a certain monetary threshold or transfers between family members. The fee can be set by the city or town legislative body or a regional affordable housing authority.