Local transfer fee not the answer to housing crisis


The recent column, “Help preserve workforce housing, bolster Cape economy: Support local option transfer fee,” was correct on one account: Massachusetts is undoubtedly facing an unprecedented affordable housing crisis. However, the author was wildly wrong that the solution is new taxes on homeowners and business owners.

Don’t just take it from us, take it from Gov. Healey. The administration recently issued a report stating that the transfer tax would only help produce around 3,200 homes – less than two% of the more than 200,000 homes needed across the state.

Increasing taxes as Massachusetts grapples with an affordability crisis is not the answer. Leaders on the Cape and Islands, as well as on Beacon Hill, need to focus on creative solutions that will ease barriers to housing creation – not continually shoot down developments that could have created hundreds of new homes.

The governor’s bill does include some helpful solutions so we hope the Legislature will act on it soon. For instance, the policy would reduce burdens around the permitting and production of Accessory Dwelling Units (ADUs). Communities across the Cape have space to create thousands, if not tens of thousands, of ADUs — perfect for both seniors looking to downsize and young people looking to become first-time home buyers.

Let’s focus on incentivizing more housing creation, not less.

Greg Vasil, CEO of the Greater Boston Real Estate Board

This article originally appeared on Cape Cod Times: Cape Cod Times letter: Local transfer fee is a bad idea

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