Bill
Bill > S2466
MA S2466
Authorizing the town of Provincetown to impose a 0.5% real estate transfer fee
summary
Introduced
10/16/2023
10/16/2023
In Committee
10/16/2023
10/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
For legislation to authorize the town of Provincetown to impose a 0.5% real estate transfer fee. Revenue. [Local Approval Received.]
AI Summary
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 in the town. The fee would be the liability of the buyer and the funds collected would be divided equally between the Provincetown Year-round Market Rate Rental Housing Trust and the town's Affordable Housing Trust Fund. The bill also outlines several exemptions to the transfer fee, such as for first-time homebuyers, transfers to government entities, and transfers between family members. The fee would be due at the time of the property transfer, with interest charged on any unpaid amounts, and the town would have the ability to recover the fee and interest through legal action.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Accompanied a study order, see S2930 (on 07/30/2024)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/193/S2466 |
| BillText | https://malegislature.gov/Bills/193/S2466.pdf |
Loading...