An Act establishing a real estate transfer fee upon the transfer of residential property in the Town of Falmouth for the purpose of funding affordable housing

This bill imposes a real estate transfer fee on residential property sales in Falmouth where the purchase price is $1 million or more. Sellers pay a graduated fee: 1% on amounts over $1 million up to $1.5 million, plus additional percentages for higher tiers (e.g., 1.5% on amounts over $1.5 million up to $2 million, and 2% above $2 million). All collected fees go directly to the Falmouth Affordable Housing Fund, which uses them for affordable housing projects. Exemptions include government transfers, family sales, charitable organizations, and properties under existing affordable housing restrictions. The fee applies to residential transfers only, with sellers required to submit documentation verifying the purchase price and fee amount.