An Act authorizing the town of Wellfleet to establish a real estate transfer fee

This bill authorizes the town of Wellfleet to collect a one percent fee on the purchase price whenever real property is transferred within its borders. The fee is split equally between the buyer and the seller, and the money collected is designated to fund local capital improvements and affordable housing projects. Specific exemptions apply to first-time homebuyers who commit to living in the home for five years, government entities, and certain transfers made without additional financial consideration.