Bill > H2730

This bill authorizes the town of Concord to establish a 1% real estate transfer fee on the portion of a property purchase price exceeding $1 million. The fee applies to the transfer of residential property interests or a controlling interest in an entity that owns such property in Concord. The fee revenue must be deposited in the Concord Municipal Affordable Housing Trust Fund and used for affordable housing purposes. The bill provides several exemptions, such as for transfers to government entities, charitable organizations, and between family members. It also outlines the process for collecting the fee and the town's ability to adopt additional requirements and regulations.

Budget and Finance

https://malegislature.gov/Bills/193/H2730