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Title: Home Rule Petition: Transfer Tax
Language: English
Event Date: 12/16/2019
Department: Cable Office
Department of Neighborhood Development
Mayor's Office
Mayor Walsh signed the Home Rule Petition in an effort to support affordable housing in Boston. Under the Home Rule Petition, a fee of up to two percent of the purchase price will be implemented on the transfer of property that is valued over $2 million in Boston. The seller and purchaser would each pay one percent of this fee and funding generated from the fee would be dedicated to supporting affordable housing in the city. The proposal will now move to the Massachusetts Legistlature for approval.

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