MA H3278

Establishes a graduated deed excise tax structure based on property sale price: 1.1x the existing rate for sales $250,000-$500,000; 1.6x for $500,000-$1,000,000; 1.8x for $1,000,000-$2,000,000; and 2x for sales exceeding $2,000,000

Sales at or below $250,000 would remain at the existing deed excise tax rate

Revenue from the graduated tax must be equally divided between housing crisis initiatives and Affordable Housing Act initiatives under Chapter 150 of the Acts of 2024

Executive Office of Housing and Livable Communities would administer the distribution of tax revenue