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Nantucket advisory group hears push for transfer fee to fund year-round housing
Summary
Town housing officials urged the nonvoting taxpayers advisory committee to back a real-estate transfer fee (a half-percent on amounts above $2 million proposed) and to send letters and calls to state legislators to secure a funding source for local affordable and year-round housing.
Housing officials urged the Advisory Committee of Nonvoting Taxpayers of Nantucket on Saturday to step into advocacy for a real-estate transfer fee they say could generate steady local funding for affordable and year-round housing.
Dylan Mechampl, deputy housing director for the Town of Nantucket, described the proposal as modeled on the island's existing land bank fee and said the draft local plan would place a 0.5% fee on sale proceeds above $2 million, with revenues earmarked for the Affordable Housing Trust. "If you sold a home for $2.5 million, you would pay a $2,500 fee that would be bookmarked for the affordable housing trust and…
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