Island towns and municipalities press Joint Committee to allow local transfer fees to fund affordable housing

At a Joint Committee on Revenue hearing, municipal officials, nonprofit leaders and residents urged lawmakers to approve local-option real estate transfer fees and housing banks to preserve year‑round housing in seasonal communities and across the Commonwealth.

Why it matters: Witnesses said rising home prices and a surge in short-term rentals have reduced year‑round housing supply, harming staffing for hospitals, schools, public safety and small businesses. Testimony emphasized that a locally authorized transfer fee — typically a small percentage of high‑end real estate transactions — would create a predictable dedicated revenue stream for preserving and producing affordable year‑round housing.

Martha's Vineyard and regional testimony: Julian Vanderhoop, select board member of Aquinnah and a Wampanoag elder, urged support for House Bill 3193 and S.1955, bills that would let the six island towns create an islandwide housing bank funded by a local-option real estate transfer fee. "This is our territory. We have a natural right to remain on our traditional territories," Vanderhoop said, adding concerns about elderly island residents…