New "Mansion Tax" Considered On Beacon Hill

Lawmakers on Beacon Hill are considering a pilot proposal that would allow ten individual communities to create its own real estate transfer fees.

Those fees would then be used to create affordable housing in a particular community.

Among the ten communities, Chatham, Provincetown, Truro and Wellfleet.

A separate bill would allow all other communities to take the same steps without special legislation needing the governor's approval. Real Estate experts say all the bill does is raise prices. The Revenue Committee will debate the bill.

Meantime, State Rep Dylan Fernandes says: "Allowing cities & towns to put a mansion tax on multi-million-dollar home sales to support housing will raise the capital needed to meet the scale of the crisis."

State Senator Susan Moran is the Chairman of that committee. She says the committee has until February of next year to report the measure out of committee.

(Photo Credit: State Senator Susan Moran's Office)

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