MA S1971

Amends Chapter 64D to create a tiered deed excise tax structure based on sale price: 1.1x 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 base rate (currently $2 per $500 of consideration)

Revenue generated from the graduated tax would be directed to the Executive Office of Housing and Livable Communities

Tax revenue must be equally divided between general housing crisis initiatives and Affordable Housing Act initiatives established under Chapter 150 of the Acts of 2024

Filed by Senator Lydia Edwards (Third Suffolk) on January 15, 2025