Tax Real Estate Sales To Build More Below-Market-Rate Housing, Left-of-Center Advocates Say

Below-market-rate housing advocates want the Massachusetts Legislature to allow cities and towns to add up to a 2 percent transfer tax on higher-end real estate sales in order to build more so-called affordable housing. The fee would apply to sale prices above the statewide median sale price and to certain property sales defined as "speculative."

Below-market-rate housing advocates want the Massachusetts Legislature to allow cities and towns to add up to a 2 percent transfer tax on higher-end real estate sales in order to build more so-called affordable housing. The fee would apply to sale prices above the statewide median sale price and to certain property sales defined as "speculative."…