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Massachusetts News

ARTICLE

Date ArticleType
1/14/2019 NAIOP in the News
WBZ: Boston City Councilor - Proposed Tax Could Create Affordable Housing

WBZ News Radio 1030 Bill Marcus

A Boston city councilor wants a transfer tax that could create more affordable housing. City Councilor Lydia Edwards introduced a bill that would place a fee, up to 25 percent, on property re-sold for profit twice within two years, and a 6 percent tax on residential sales over $2 million, according to the Boston Globe.

Edwards told WBZ NewsRadio1030’s Bill Marcus that the transfer tax would fund residential housing.

“We need money to build affordable units. We need to generate those fees, and we need to generate that income somehow,” Edwards said.

But, Tamara Small, the CEO at NAIOP Massachusetts — the Commercial Real Estate Development Association, said a new tax will slow development if the housing market softens. She said the buyer, not the seller, would pay the difference.

“We would certainly not be in support of the proposal. Transfer taxes, often times, end up driving up the cost of housing,” Small said. “There’s not a silver bullet to this issue. I think it’s going to be a combination of the public and private sector working together.”

NAIOP Massachusetts is the leading association representing the interests of the commercial real estate industry, and professionals engaged in real estate development, investment and ownership in the Commonwealth. Part of an international organization, the Chapter provides outstanding education and networking opportunities, as well as advances the interests of the industry and advocates for effective public policy.
NAIOP Massachusetts
144 Gould Street, Suite 140 | Needham, MA 02494
781.453.6900 | info@naiopma.org
  • Attend
    • Event Calendar >
      • Past Programs
    • Photo Gallery
    • Advertising & Sponsorship
  • Advocate
    • Government Affairs
    • Top Issues
    • Policy Committees
  • Learn
    • NAIOP Massachusetts University
    • Courses
    • 2019 Leadership Institute
    • Mentor Program
  • Join
    • Join Now
    • Why NAIOP?
    • NAIOP Membership
    • Committees
    • Member Directory
    • New Members
    • Member Recruitment
  • About
    • NAIOP Massachusetts
    • Leaders and Members
    • Job Bank
    • NAIOP National
    • News
    • 2017 Annual Report
  • Connect
    • My NAIOP
    • Contact
    • NAIOP LINK @ Allsteel
    • CREST
    • Social Media
    • Policy and Trends Blog
    • Email Signup
    • Board of Directors Resources