Sunday, January 29, 2006

Real Estate Transfer Tax Opposed

The Massachusetts Association of Realtors calls a plan to fund affordable housing with a 1 percent transfer tax on homes priced over $750,000.00 as "unfair". Presently, a proposal included in a bill S, 2330, is pending in the legislature's Joint Committee on Revenue.

Michele Lerner wrote in a trade magazine: Home owners and home buyers in targeted areas shouldn't have to pay for something that's the responsibility of the entire community. Steven Ryan, MAR general council and director of goverment affairs states "MAR opposes transfer taxes in any locality because they're essentially an entrance fee into a town."

Ford Realty will keep you posted on this proposed bill.


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