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Boston council approves home-rule petition to authorize targeted real-estate transfer fee to fund affordable housing and senior relief
Summary
The Boston City Council voted to advance a home-rule petition authorizing a locally-administered transfer fee (up to 2% with a $2,000,000 exemption) intended to fund affordable housing and expand senior property-tax relief; councilors debated targeting, projected revenue and local ordinance controls.
The Boston City Council voted on April 15 to advance a home-rule petition that would authorize the city to assess a targeted real-estate transfer fee of up to 2 percent on high-value property sales, exempting the first $2,000,000 of any transaction. Councilor Colette Zapata, chair of the Committee on Government Operations, presented the committee report recommending passage and described the measure as a narrowly tailored tool to generate locally controlled revenue for affordable housing while expanding senior property-tax relief.
"This policy is tightly calibrated and narrowly defined," Zapata said, noting the exemption for…
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