MA H4300

Imposes a 0.5% fee on real property transfers in Chatham with purchase prices of $2,000,000 or more, with the purchaser responsible for payment

Revenue deposited into a Housing Fund dedicated to creating and preserving affordable housing (up to 100% area median income) and attainable housing (up to 200% area median income)

Exemptions include transfers to government entities, gifts without consideration, intra-family transfers, foreclosures, charitable/religious organizations, and certain corporate/partnership formations and dissolutions

Fee has 10-year initial duration, renewable for 5-year periods by majority Town Meeting vote; fee rate and threshold can be modified or eliminated by two-thirds Town Meeting vote

Takes effect 90 days after passage; unpaid fees subject to 14% annual interest and penalties up to 25%, with liens enforceable against purchaser's property