Friday, September 24, 1999
Senate approves bill to allow transfer or sales tax
The Massachusetts Senate unanimously adopted the Community Preservation Act. The measure would give local towns the option, if approved by a ballot referendum, of imposing either a one-percent surtax on housing sales or a three-percent increase in property taxes. Additionally, the bill gives local authorities the option of choosing up to four exemptions for either tax. The revenue derived from the additional tax would be used by town to purchase and preserve open land, construct low-to-moderate income housing, and preserve historic structures.
"A number of communities have expressed their desire to see some type of legislation to help them preserve their remaining open spaces," said Senator Susan Fargo. I sponsored this bill, in large part, because it gives individual communities the option of enacting either of these funding mechanisms and provides sufficient local control so each community can do what it believes to be in its best interest. Moreover, this bill is an essential step toward creating low and moderate income housing, and preserving historical landmarks and treasures."
The Community Preservation Act still has to be adopted by the House and approved by the governor.
© 1999 The Carlisle Mosquito