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HD 4373

An Act establishing a real estate transfer fee upon the transfer of residential property in the Town of Falmouth for the purpose of funding affordable housing

194th Legislature (2025-2026) Introduced by Thomas Moakley

HD 4373: An Act establishing a real estate transfer fee upon the transfer of residential property in the Town of Falmouth for the purpose of funding affordable housing OverviewBill

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Bill Summary · HD 4373

HD 4373: An Act establishing a real estate transfer fee upon the transfer of residential property in the Town of Falmouth for the purpose of funding affordable housing

Overview

Bill Number: HD 4373
Title: An Act establishing a real estate transfer fee upon the transfer of residential property in the Town of Falmouth for the purpose of funding affordable housing
Status: Proposed bill
Introduced: November 29, 2025

Purpose and Intent

The primary goal of this bill is to establish a real estate transfer fee in the Town of Falmouth, Massachusetts, with the revenue generated used to fund the development and preservation of affordable housing in the town. The bill is intended to address the growing affordability crisis in Falmouth by providing a dedicated funding source for affordable housing initiatives.

Key Provisions

  • Imposes a 1% real estate transfer fee on the sale of all residential properties in the Town of Falmouth, with some exemptions for certain types of transfers
  • Requires the revenue from the transfer fee to be deposited into a newly created Falmouth Affordable Housing Trust Fund
  • Specifies that the Affordable Housing Trust Fund can only be used for the creation, preservation, and support of affordable housing units in Falmouth
  • Establishes an Affordable Housing Trust Board to oversee the management and allocation of the Affordable Housing Trust Fund
  • Requires the Affordable Housing Trust Board to develop and implement a comprehensive affordable housing plan for the town

Affected Parties and Impacts

  • Homeowners in Falmouth who sell their residential properties will be subject to the 1% real estate transfer fee
  • Developers and organizations involved in the creation and preservation of affordable housing in Falmouth will have access to the Affordable Housing Trust Fund to support their projects
  • Low- and moderate-income residents of Falmouth will potentially benefit from the increased availability of affordable housing units in the town

Procedural and Timeline Considerations

The bill has been introduced in the Massachusetts House of Representatives and is currently under consideration by the Joint Committee on Housing. If passed by the legislature and signed into law by the governor, the real estate transfer fee and the Affordable Housing Trust Fund would be established within 6 months of the bill's effective date.

Compiled from official sources — confirm details with the bill’s official record.

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