Bill > S2563

This bill would authorize cities and towns in Massachusetts to impose a local affordable housing surcharge of up to 2% of the real estate tax levy on real property. The surcharge revenue would be deposited into an affordable housing trust fund. The bill outlines the process for a city or town to accept this surcharge, provides exemptions for certain property types and low-income/senior residents, and allows for the surcharge to be revoked or amended. The bill aims to generate additional funding for affordable housing initiatives at the local level.