An Act relative to real estate transfer fees and senior property tax relief in the city of Boston
Maddy summaryThis bill establishes a real estate transfer fee of up to 2% on property sales in Boston to fund affordable housing and senior tax relief programs. The fee is paid by the seller but excludes the first $2 million of a property's value and includes exemptions for family transfers, government entities, and other specific cases. Collected funds must be deposited into the Neighborhood Housing Trust, though the city can reserve some for additional housing stability initiatives. Additionally, the legislation updates the criteria for senior homeowner property tax exemptions by raising income and asset limits to better protect vulnerable residents from displacement.
Budget & TaxesSupports Budget & TaxesBill creates a new fee to fund affordable housing and senior tax relief, directly advancing fiscal management and protecting vulnerable groups.
HousingSupports HousingBill establishes fees to fund affordable housing and senior tax relief, directly advancing housing stability.
0 co-sponsors