Mansion Tax on $1 Million + Homes. Is it coming to Massachusetts?

Mansion tax might just be on the horizon for Massachusetts. Mansion tax is an additional transfer tax on properties priced at $1M or higher. 17 Cities and 7 states have adopted this practice and have funded their programs that help communities.
Will this mansion tax actually become a reality? Well, that's still up in the air. But hey, as they say, where there's a will, there's a way! And with so many folks feeling the squeeze of housing costs, maybe now's the time for a change.
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[@BostonAreaHomes]

What do you think? We are desperately in need of affordable housing and since the government is not going to save all the communities in U.S., another option that is becoming very popular is an additional tax when buying or selling expensive homes. But is $1M considered an expensive home now? It's definitely not a Mansion by the Boston standards in 2024, it's just a middle class home. Would it create an additional burden on middle class families? I like the progressive kind, so the more expensive the property, the higher the percentage that you have to pay in the Mansion tax. I am really curious what your opinion is about this.

[@virginiaconway374]

It must stop ! Punishing people for being successful with extra taxes. It will hurt everyone in the community and business world

[@charles5a]

People making these schemes seem to have zero clue about economics. The only way to solve housing affordability in the long term is to have more supply. PERIOD. And the only way to have more supply is for the state to get a handle on local zoning restrictions, allowing denser builds.
We seem to have forgotten in this country how free market economics work.

[@BostonAreaHomes]

Actually, that’s what they are trying to do. MA is enforcing new laws for each area that is close to train stations- commuter rail and subway. There are plans in place in many towns to build new townhouses and condominium buildings. The towns close to Boston are going to get much denser.

[@charles5a]

@@BostonAreaHomes I think you mean the MBTA communities law, which is a step in the right direction. Obviously, the state has interest in maximizing the impact of public transport projects.
But, I'm arguing that this is trying to micromanage the issue, by finding spots where the state encourages denser housing. By why even allow restrictions on multi story housing anywhere? Developers' self interest will only locate them in areas where the infrastructure allows. They aren't going to spend millions building them in the middle of nowhere.
Other than industrial zones, what's the benefit of residential/commercial zoning? Who gets harmed if a multi level building goes up in a neighborhood of single family houses, or if a store opens up in such neighborhood?

[@BostonAreaHomes]

One thing that the US always had was lots of land, so they built communities accordingly. Now that there is more population, they will adjust. In Europe land was always scarce so they built differently. It’s a natural process of growth, and growth always comes with pain. Opposition doesn’t want more traffic, lots of construction under their noses and they feel that they will loose their right to quiet enjoyment. The planning is badly done sometimes, creating bottlenecks and making local residents mad. In Belmont, they artificially narrowed Trapelo rd, and now the rush hour traffic sits at the intersection for hours polluting the local residents’ air. So, just erecting big buildings here and there without planning well is only going to hurt communities. I hope they do it right, though, I really hope. Thanks for your comments.