MA H4703

Authorizes the Town of Truro to impose a 0.5% fee on the purchase price of all real estate transfers, with the purchaser liable for payment

Revenue split equally: 50% to the Town's Capital Improvement Stabilization Fund and 50% to the Affordable Housing Trust Fund

Exempts first-time homebuyers who live in the home for at least 5 years (with a lien attached until conditions are met), transfers to government entities, charitable and religious organizations, and family transfers

Exempts transfers of convenience under $100 (such as name changes or trust transfers) and corrective deed transfers

Grants the Select Board authority to enact and amend regulations to implement the fee; takes effect upon passage