Housing Partnership’s transfer‑fee idea draws interest; Board asks for data

The Bedford Planning Board on Jan. 20 reviewed a proposal from the town’s Housing Partnership to place a home‑rule real estate transfer fee on a future Town Meeting warrant to fund affordable housing.

Planning Board member Christopher Gittins, who also serves on the Housing Partnership, said the Partnership is looking at approaches taken by a dozen other towns. Planning Director Tony Fields said thresholds could be set — an example discussed was a $1 million transaction threshold — and typical rates range from about 0.5 percent to 2 percent in other towns. Fields said the Partnership is seeking the Planning Board’s input on whether the Board would support putting an article on the warrant.

Board members asked for data showing potential revenues and the effect on home sales. "I would want more details on how the money would be taken, controlled and purposed," Chair Steven Hagan said, noting that advancing the idea formally would be the Select Board’s role and that it would "essentially be adding a new tax." Several members expressed interest in seeing options and town reaction before taking a position. Gittins said he could take Planning Board comments back to the Housing Partnership for further development.

The Board did not vote on placing the article on the warrant that evening and asked staff and the Housing Partnership to return with more detailed proposals and revenue estimates.