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

Somerville would impose a 2% fee on most real estate transfers (1% paid by the seller, 1% by the buyer), with exemptions for transfers between family members, government entities, and certain vulnerable seniors or qualifying residential property owners. The fee funds the Somerville Affordable Housing Trust Fund, which must support programs like community land trusts and purpose-built housing for current or recent residents. The city must track who pays the fee and report annually on how funds are used to support housing stability and affordability. This applies to residential properties (excluding those with four+ units) and requires documentation with property deeds before recording.