An Act authorizing the city of Cambridge to impose a real estate transfer fee

HD 4278 authorizes Cambridge to charge a 2% fee on real estate transfers exceeding $1 million, applying to property sales or major ownership changes in Cambridge. The fee is paid by sellers (not buyers) and excludes government transfers, affordable housing properties, and certain corrections to prior transfers. Collected by the Middlesex South registry of deeds at the time of property recording, all fees fund Cambridge's Affordable Housing Trust Fund. The exemption threshold automatically adjusts yearly based on Boston-area inflation data.