An Act establishing a real estate transfer fee upon the transfer of property in the town of Arlington

HD 5191 establishes a real estate transfer fee for property sales in Arlington, applicable to transactions exceeding 50-150% of the state median home price. The fee, ranging from 0.05% to 2% of the sale price, would be paid by buyers, sellers, or both (determined by town meeting) and collected for the Municipal Affordable Housing Trust Fund. The bill includes exemptions for gifts between family members, government transfers, affordable housing units, and foreclosures, among others. Specific fee rates and thresholds will be set by Arlington's town meeting following select board recommendations. All revenue must fund affordable housing programs, with annual reports tracking fund usage and impact.