Transfer fee in the news
After House leaders signaled support for a new fee on pricey real estate, the influential industry kicked into gear to change their minds.
“What happened was what we knew was going to happen,” said Mark Martinez, who leads a coalition supporting the fee. “The real estate industry has come out in full force against the transfer fee and they are spreading misinformation. Simply put, they have a lot more money than we do. It’s challenging to battle that.”
The Boston Globe, June 7, 2024
The recent pushback in some communities against the MBTA Communities Act has only underscored the need for cities and towns to have more than one way to solve Massachusetts' housing problem.
Editorial, The Boston Business Journal, May 23, 2024
Real estate tax knocks. Is nobody home at the State House?
Speaker Mariano thinks tax is unpopular. Has he not heard the roar of approval for it?
Re “Mariano reluctant on real estate tax” (Metro, May 16): In the midst of a worsening housing crisis, our communities are in need of every funding tool possible. The effort by business interests such as the Greater Boston Real Estate Board to undermine the implementation of real estate transfer fees threatens the Commonwealth’s ability to remain competitive. It appears the influence of such groups has led some other influential people to believe that the transfer fee proposed in the Affordable Homes Act is not popular. This raises the question: Were they watching when more than 1,200 members of the Greater Boston Interfaith Organization were joined by the Building Trades Unions, HYM Investments, Mayor Michelle Wu of Boston, and Lieutenant Governor Kim Driscoll in support of it last June? Or when another 1,700 people gathered in Roxbury in March to champion it alongside interfaith clergy, real estate professionals, and legislators?
The Boston Globe, May 22, 2024
As mayors, we need more tools to boost housing production; Leaders in Lynn, Salem call for action on Affordable Homes Act
As gateway cities, Salem and Lynn have long been home to diverse groups of people working hard to build a better life for themselves and their families. For generations, our communities have been places where everyone from healthcare workers and tradespeople to fire fighters and teachers could thrive. But now we’re facing a housing crisis that threatens the very heart and character of our communities. We need all of the funding and policy tools in the Affordable Homes Act to address this crisis.
CommonWealth Beacon, May 20, 2024
Help preserve workforce housing, bolster Cape economy: Support local option transfer fee
The Cape and Islands are facing an affordable housing crisis that is shuttering our small businesses, damaging our public safety, education and health care and threatening our cherished way of life.
There are solutions, and one of the most promising for communities like Nantucket, Provincetown, Chatham and the towns of Martha’s Vineyard — communities that desperately need the help and have asked for it now for years — is the passage of a small local option transfer fee on the most expensive real estate transactions.
Cape Cod Times, May 19, 2024
Desperate Real Estate Lobby’s Deceptive Ads
Desperate to stop growing statewide support for a fee on luxury real estate that would fund and preserve affordable housing – including for seniors and first-time homebuyers – the Greater Boston Real Estate Board is blanketing the state with false advertising.
"The housing crisis has made it almost impossible for renters to get by and for families to continue to make Massachusetts their home. Where municipalities elect to have a transfer fee for housing, it simply asks that those who have profited the most to contribute a tiny portion of the proceeds to build and preserve sorely needed affordable housing, and importantly stabilize communities," said Mark Martinez, Co-Chair of the LOHA Coalition. "It is disheartening to see the real estate industry peddle misinformation and lies in an attempt to put their own profits over the needs of our communities."
News Release, May 6, 2024
Governor’s Housing Bill Includes Transfer Fee
April brought more good news for supporters of the real estate transfer fee. The Joint Committee on Bonding reported the Governor’s Affordable Homes Act without amendment. Action now moves to the Ways and Means Committee, where active discussions about the content of the bill will begin once work on the State Budget is completed. At the same time, Legislative leaders received this letter signed by officials from 27 municipalities endorsing the local option real estate transfer fee. Press coverage was good, with this article in Mass Live.
Legislative Update, May 5, 2024
Joint Committee on Revenue Hears Transfer Fee Bills
On October 11, advocates for the transfer fee testified for the LOHA bill (S.2747 /H. 1771) submitted by Senator Comerford and Representative Connolly, as well as home rule petitions from towns that have already passed a real estate transfer fee. Mayor Wu of Boston and Mayor Ballantyne of Somerville spoke, as did municipal officials from Amherst, Concord, and Cambridge that have home rule petitions pending. They were joined by officials from municipalities such as Great Barrington and Worcester that are actively considering a transfer fee. Several legislators spoke in favor, as did housing advocates and beneficiaries of affordable housing provided by municipalities. Some of their testimony, as well as a full hearing transcript, is linked here.
Press Release, October 11, 2023
A transfer fee on high-end real estate sales to fund affordable housing makes sense. It requires no taxpayer money, and no community is forced to take part — cities and towns can decide for themselves whether to opt in.
Editorial, The Boston Business Journal, August 31, 2023
Pressure Grows for Transfer fee
As momentum grows for passage of the transfer fee, LOHA supporters gathered at the State House on June 6 to press for the passage of our pending legislation. In addition to State-wide bill sponsors Senator Commerford and Representative Connolly, the small group of speakers including planners, housing advocates, tenants and entrepreneurs who confirmed the need for prompt action on this legislation. After the meeting, attendees met with Legislators to urge support for action this year.
Press Release, August 31, 2023
“We’ve reached a point in this crisis where we need another resource,” said Matt Walsh, policy analyst for Metropolitan Area Planning Council and co-coordinator of the Local Option for Housing Affordability Coalition. “We’re tying the heat of the market to the resources that we have to deal with it.”
The Boston Globe, May 7, 2023
“Cyr said Beacon Hill can play a role in solutions. Nantucket, for example, has on several occasions approved a home-rule petition to impose a fee on real estate transfers and use the revenue for affordable housing, but it never cleared the Legislature. He stressed, though, that he believes the housing crisis "will be solved or will not be solved based on action taken at the municipal level.”
WBUR, June 17, 2021
“Nantucket has experienced profound unaffordability, and the workers who make the island run and keep the island vibrant during the winter cannot afford to live there,” Fernandes said. “There’s huge need in funding affordable housing on-island, and without it, Nantucket just won’t be a sustainable community.”
Cape Cod Times, March 21, 2021