Hurley board begins discussion of community preservation fund and potential transfer tax on home sales

Town staff outlined a multi‑step process for creating a community preservation fund funded by a transfer tax applied to the portion of a sale above the median house price. Staff said the town must first adopt a community preservation plan and then pass three local laws: one adopting the plan, one creating the fund, and a tax law establishing the transfer fee. The board discussed policy options, including limiting the tax to second homes or to sales above a high threshold.

A public commenter asked for clarification about who would pay the charge and staff explained the tax would be applied to the portion of the sale above the median price and that municipalities have statutory limits (the meeting cited a 2% cap as a common maximum). Staff said the town’s existing preservation fund holds funds from prior surpluses (the meeting summary cited roughly $130,000 available) and emphasized the need for public hearings and careful criteria defining which properties would qualify for preservation purchases. "Every single sale in the town of Hurley, there is an extra percentage taken and put in this fund," a staff speaker explained to clarify how the mechanism would work if adopted.