Bill
Bill > H3966
MA H3966
Authorizing the town of Provincetown to impose a 0.5% real estate transfer fee
summary
Introduced
06/10/2021
06/10/2021
In Committee
03/10/2022
03/10/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
That the town of Provincetown be authorized to impose a real estate transfer fee. Revenue.
AI Summary
This bill authorizes the town of Provincetown to impose a 0.5% (half percent) real estate transfer fee on the purchase of any real property interest within the town. The fee would be the responsibility of the purchaser, with the first $250,000 collected each fiscal year going to the town's capital improvement stabilization fund and the remaining funds going to the general fund. The bill outlines several exemptions, including for first-time homebuyers who live in the home for at least 5 years, transfers to government entities, corrective transfers, transfers between family members, and transfers to charitable or religious organizations. The fee must be paid at the time of the property transfer, and the town can collect interest on any unpaid amounts.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
No further action taken (on 01/03/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/192/H3966 |
| Bill | https://malegislature.gov/Bills/192/H3966.pdf |
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