Chatham Considers New Real Estate Tax

A so-called "mansion tax" is under consideration by the Chatham Board of Selectmen to address the town's housing shortage. 

The Cape Cod Chronicle reports Selectman Jeffry Dykens floated the idea of a real estate transfer tax for properties over two-million dollars at a meeting this week. Some board members expressed support, and it was agreed that there would be continuing discussion. 

The transfer tax would require town meeting approval and special legislation.

Money background

Photo: Getty Images North America

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