BARNSTABLE – State lawmakers are pushing for Cape Cod to adopt a county-wide luxury real estate transfer fee option.
At a special meeting this week with the Barnstable County Assembly of Delegates, Cape and Islands Senator Julian Cyr and Plymouth and Barnstable Senator Dylan Fernandes backed the idea potentially adding a fee to luxury sales to provide funding for affordable housing projects.
“This legislative delegation is really speaking with a unified voice about the desperate need for us to take action on housing,” said State Senator Julian Cyr of Provincetown.
“When you look at what is going to be needed, the scale of the problem, you need a strong dedicated revenue source,” said Senator Cyr.
Towns like Provincetown and Eastham have fees of up to 3 percent could go a long way towards helping regional housing, say Assembly members.
However, the measure would require a home rule petition with state lawmakers, as well as setting up a local housing fund through county ordinance.
There is also not yet an agreed upon percentage for a regional fee.
“There’s been a groundswell of support across the Cape and Islands and Commonwealth in support of a local option transfer fee, recognizing that we’re in a profound housing crisis,” said Senator Dylan Fernandes of Falmouth, who also represents Bourne, Sandwich, and Mashpee.
“We know this is the number one issue in our communities, and this is a mechanism that would allow us to dictate our own future when it comes to supporting housing,” said Senator Fernandes.
A follow-up, hybrid public meeting on September 24th at 4 pm will allow residents to make their voices heard on the matter. The link for that meeting can be found here.
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