HYANNIS – Local leaders were on Beacon Hill to announce the creation of the 2 Cents for Housing Coalition on Wednesday in support of enacting a real estate transfer fee to fund affordable and workforce housing.
The proposed legislation would provide municipalities in Massachusetts with the option to charge up to a 2% fee on transactions involving the most expensive places to own and rent in the state.
Cape & Islands State Senator Julian Cyr joined other politicians, including Barnstable/Dukes/ Representative Dylan Fernandes–who originally joined in filing legislation on the matter last year–in voicing support for the legislation that looks to combat the ongoing housing crisis.
“We will not have year-round communities in Provincetown, in Truro, in Wellfleet, on the Islands, if we don’t step it up with housing,” Cyr said at the State House.
Housing advocacy groups throughout the area also supported the fee.
Cyr said that passing legislation on the matter would create a thriving place to live rooted in the communities that have called the Cape and Islands home for generations.
“Cape Cod and the Islands is a relevant place you can visit not just because it’s beautiful, but because of the culture and the people who make their lives in the area. I cannot convey how urgent this issue is,” he said.
Money raised by the fee would be collected by the city or town. Municipalities would not be able to enact the fee on the sale of homes below the state median home price, and the fee is flexible between .5 and 2%.
The 2 Cents for Housing Coalition is now working with the Committee on Revenue to compromise the legislation.
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