Bill > H2916

This bill authorizes the town of Provincetown to impose a 0.5% real estate transfer fee on the purchase price of any real property interest transferred in the town. The fee is the liability of the purchaser and the first $250,000 collected each fiscal year will be deposited into the town's capital improvement stabilization fund, with the remaining funds going to the town's general fund. The bill also outlines several exemptions to the fee, including for first-time homebuyers, transfers to government entities, and transfers between family members. The fee is due at the time of the property transfer, and the town can collect unpaid fees and interest through an action of contract.

Budget and Finance

https://malegislature.gov/Bills/193/H2916