MA H4576

Authorizes the Town of Eastham to impose a real estate transfer fee of up to 3% on the purchase price exceeding $1 for any property transfer within the town

Revenue collected will be deposited into the Town's Affordable Housing Trust Fund and/or Wastewater Stabilization Fund, as determined by the Select Board

Exemptions include first-time homebuyers who live in the home for at least 5 years, government transfers, family transfers (spouses, parents, children, siblings), charitable/religious organizations, and deed-restricted affordable housing units

The fee is the liability of the purchaser, and the fee rate or exemption amount may be amended by a two-thirds vote at Town Meeting

Takes effect 90 days after passage; local approval has already been received from the town