Massachusetts proposes a mansion tax on high-value property sales for funding affordable housing.
Massachusetts proposes a mansion tax on high-value property sales to fund affordable housing. Governor Maura Healey's $4B housing bond bill includes a provision for cities to impose a 0.5-2% transfer fee on sales over $1M. Revenue will be allocated to affordable housing projects. The proposal mirrors Chicago's rejected measure and has caused debate among local governments, housing advocates, and critics concerned about its impact on home sales and property developers.
May 06, 2024
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