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Tell your representative to oppose a 50% increase in the deeds excise tax!
Governor Baker recently released his budget proposal for the upcoming fiscal year. Unfortunately, this budget included a 50% increase on the real estate deeds excise tax, also known as the transfer tax or stamp tax. This tax is issued on the seller of a property in Massachusetts, and currently stands at $4.56 per $1,000 purchase price.
This increase would cost taxpayers an additional $1,200 on the sale of a $500,000 home and is expected to drive up the costs of housing by $1 Billion over the next ten years. This is in addition to the cost of getting a home ready to sell, paying for multiple inspections, attorney’s fees and realtor fees.
Housing prices in Massachusetts are already sky high and our government leaders should be searching for ways to bring costs down, not drive them up. Please take a minute to tell your State Representative NOT to include this tax increase in their budget.
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