Programs which help people afford their rent are a critical tool in addressing the housing affordability crisis. How can Massachusetts, which has long been a national leader on housing voucher policy, move towards a universal solution?
A downloadable, interactive Excel dashboard that provides data for each of Massachusetts’ 351 cities and towns on how much revenue a community could raise by collecting an additional real estate transfer fee on the sale of more expensive homes.
Based on industry data from the Warren Group on home sales in Massachusetts, previous analysis has shown how rare it is that a sale might generate taxable capital gains of $1 million or more. But what does the data say about home sales that might have created taxable income over $1 million in 2021?
In the majority of Massachusetts cities and towns, no homes sold for a net gain of $1 million or more, meaning they wouldn’t be subject to any additional taxes under the Fair Share Amendment.
Even in Massachusetts’ hot housing market with many homes selling for over $1 million, the vast majority of all home sales will not subject the home sellers to a proposed “millionaire’s tax.”
The Emergency Rental Assistance Program is not the only way to ensure adequate rental assistance support in the Commonwealth, other ARPA funding or state dollars could be utilized to encourage housing security.
The fight for using ARPA dollars for housing is not over! Dollars from the Coronavirus State Fiscal Recovery Fund – the most flexible pot of COVID relief money provided by the U.S. government – are still available and provide an opportunity to fund housing initiatives that foster a more equitable recovery.
MassBudget analyst La-Brina Almeida co-authored a groundbreaking report, “Housing Justice Beyond the Emergency: An Analysis of Racial Inequity in Eviction Filings Across Massachusetts,” in collaboration with local partners, Homes for All Massachusetts.
Photo via Getty Images Friend, Nobody deserves to wonder if one Supreme Court decision is the difference between keeping their family safely housed or …