N
antucket’s long‑awaited real‑estate transfer fee bill is set for a State House hearing on Tuesday as a stand‑alone proposal. For over a decade, the town—backed by affordable‑housing advocates and the Nantucket Association of Real Estate Brokers—has pushed a housing‑bank measure that would levy a modest fee on high‑value property transfers, creating a reliable revenue stream for affordable housing that is more flexible than most state or federal programs.
Housing Director Kristie Ferrantella said the bill would give Nantucket a sustainable, dedicated source of funds without raising property taxes, enabling investment in housing that keeps the island livable for teachers, healthcare workers, and other essential residents.
Opposition has been strong. A coalition of Beacon Hill interests, including the Massachusetts Association of Realtors and Democratic leadership in the House and Senate, has blocked every attempt to pass a transfer fee. Local dissent exists too; Will Willauer of the Nantucket Tipping Point Board warned that the fee could strain the island’s already‑strained infrastructure before it is fully understood.
Historically, the fee has been attached to large housing bills and withdrawn before a vote when sponsors sensed insufficient support. This year’s version, co‑sponsored by Rep. Thomas Moakley and Sen. Julian Cyr, is a stand‑alone measure that would impose a 0.5 % fee on sales above $2 million, applying only to Nantucket—though a similar bill is circulating for Martha’s Vineyard.
Moakley noted that both islands face acute housing challenges: home prices have surged beyond the reach of working families, and year‑round rental supply is critically low. Teachers, first responders, and other essential workers are increasingly unable to secure stable housing.
Last year, Governor Maura Healey supported the fee and included it in her housing‑bond bill, but it never reached a vote. Despite this, Nantucket’s housing advocates remain hopeful. Land Trust Executive Director Tucker Holland said optimism is essential, and both Holland and Ferrantella urged residents to testify in favor of the bill to the legislature.
