Government Operations on April 10, 2026

The Boston City Council Committee held a hearing on April 10, 2026, to discuss a home rule petition proposing a real estate transfer fee on high-value property transactions and expanded property tax relief for seniors. The transfer fee, set at up to 2% on amounts exceeding $2 million, aims to generate significant revenue—estimated between $50 million to $180 million annually—to fund affordable housing production, preservation, and support for vulnerable populations, including seniors. Panelists from the Boston Housing Authority, city housing officials, and community development corporations emphasized the urgent need for new revenue sources amid declining federal and local funding, rising housing costs, and a growing senior population facing displacement. Public testimony from community advocates and residents highlighted the impact of rapid real estate speculation on working-class neighborhoods and the importance of the transfer fee in stabilizing housing for low-income families and seniors. The committee expressed intent to move the petition expeditiously to the state legislature for approval, noting prior attempts and modifications to address concerns. The funds collected would be managed by the Neighborhood Housing Trust to support affordable housing initiatives across Boston.