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Mansion Tax May Be Headed to Boston Next

Boston’s mayor has paved the way for a new mansion tax on all home sales over $2 million.

Mayor Martin J. Walsh signed a petition that would give Boston the ability to charge a one-time transfer fee of up to 2% on residential deals over $2 million—funds that would be used to create more affordable housing in the city, the mayor’s office announced on Monday. If approved, Boston would join a growing pack of global cities—including New York, London and Sydney—where lawmakers have taken aim recently at robust luxury sales.

“Housing is the biggest economic challenge facing the residents of Boston and people across our region. ……..Read More