via MassBudget:
"All residents of Massachusetts deserve access to affordable, safe, and stable housing. However, the Commonwealth currently faces a severe shortage of housing that is affordable to households earning lower incomes. Additionally, home prices have dramatically outpaced inflation, while renters, especially renters of color, continue to face high housing cost burdens.Cities and towns have the potential to make significant contributions toward meeting affordable housing needs, but they need the resources to do it. Real estate transfer fees, which assess a fee on specific real estate sales, can create or preserve thousands of affordable housing units. Transfer fee revenue from high-end sales could fund local affordable housing trusts, which are often underfunded.Transfer fees direct some of the economic gains from those who have most benefited from real estate appreciation to those who have most acutely felt the negative impacts of the housing affordability and displacement crises. In doing so, they are a tool for economic and racial equity.In a new report, MassBudget Housing Analyst Victoria DiLorenzo discusses how municipal affordable housing trusts create and preserve affordable housing locally, and how local revenue can be a key tool in addressing the Commonwealth’s housing affordability crisis. The report focuses on the 19 communities that have filed home rule petitions seeking state permission to enact a real estate transfer fee."
Read the report -> https://massbudget.org/2025/02/13/local-revenue-affordable-housing/
No comments:
Post a Comment