The Acton Select Board convened on September 8, 2025, to discuss several key issues, including the potential implementation of a real estate transfer fee. The meeting highlighted preliminary figures indicating that a transfer fee on transactions exceeding one million dollars could significantly impact the town's finances.

During the discussion, it was noted that in February 2024, there were 88 transactions over one million dollars out of a total of 290 transactions in Acton, representing approximately 30% of all transactions. If a transfer fee of 0.5% on amounts over one million dollars had been in place, it could have generated around $557,000 for the town. This amount, while not overwhelming, is considered significant compared to the several hundred thousand dollars currently allocated for community preservation funds aimed at housing.

One of the key advantages of the proposed transfer fee is its flexibility compared to existing community preservation funds, which have statutory restrictions on their use. The Select Board emphasized that the funds generated from the transfer fee could be utilized more broadly, potentially addressing issues faced by the housing authority in maintaining affordable housing stock.

The board also discussed the scope of the proposed legislation, which appears to apply to both residential and commercial transactions. Concerns were raised regarding the impact of the fee on commercial real estate, particularly large-scale multifamily housing developments. Some board members expressed hesitation about imposing a tax that could negatively affect businesses, while others argued that the fee would likely have a minimal impact on large commercial transactions.

The meeting concluded with a call for the Select Board to act on the proposal, as a hearing on the legislation was scheduled for the following morning. The board's decision could influence the discussion at the hearing and shape the future of real estate transactions in Acton.