Bill
Bill > H3665
MA H3665
Authorizing the town of Wellfleet to establish a real estate transfer fee
summary
Introduced
03/30/2023
03/30/2023
In Committee
03/30/2023
03/30/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
That the town of Wellfleet be authorized to establish a real estate transfer fee in said town. Revenue. [Local Approval Received.]
AI Summary
This bill authorizes the town of Wellfleet to establish a 1% real estate transfer fee payable by both the buyer and seller upon the transfer of any real property interest in the town. The first $50,000 collected annually will be deposited into the town's Capital Improvement Stabilization Fund, and the remaining funds will be deposited into the Wellfleet Affordable Housing Trust. The bill provides several exemptions from the fee, such as for first-time homebuyers, transfers to government entities, and transfers between immediate family members. The town is responsible for collecting the fee and issuing certificates for exempt transfers, and it has the authority to enforce the collection of unpaid fees.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Accompanied a study order, see H5045 (on 09/12/2024)
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/193/H3665 |
| BillText | https://malegislature.gov/Bills/193/H3665.pdf |
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