Bill > H4350

This bill authorizes the town of Brookline to establish a real estate transfer fee on property sales over a certain value, with the fee ranging between 0.5% and 2% of the portion of the purchase price exceeding an established threshold. The transfer fee would be paid by the seller at the time of property transfer and would be split equally between the Brookline Affordable Housing Trust fund and the Brookline General Fund. The bill includes numerous exemptions from the fee, such as transfers under $1,000,000, gifts, transfers between family members, government transfers, and transfers of properties with affordable housing units. The town would be required to provide a certificate indicating the fee amount before the transfer and keep detailed records of fee receipts. The town must also prepare an annual report detailing fee collections and the impact of affordable housing programs funded by the fee. The transfer fee would be adopted by a majority vote at Town Meeting and can be enforced through various means, including potential license denials or property liens. Property owners who disagree with the fee assessment would have the right to appeal, first through a town procedure and then potentially to the Appellate Tax Board. The primary goal of this fee is to generate funding for affordable housing initiatives in Brookline.

Budget and Finance

https://malegislature.gov/Bills/194/H4350