Representative Dylan Fernandes has served Falmouth, Martha’s Vineyard and Nantucket in the legislature since 2017 where he has focused on combating climate change, advancing affordable housing, and addressing the opioid and heroin epidemic. He serves as the Vice Chair of the Committee on Tourism, Arts & Cultural Development, and has seats on the Committee on Ways and Means, the Committee on Telecommunications, Utilities & Energy, and the Committee on Global Warming and Climate Change.
Housing is a basic human right and yet today, the lack of affordable housing is driving young people and working families out of our district. Seniors who helped to build this community can’t afford to remain in their homes and we are at risk of becoming an economy that must import its workforce. I talk with small business owners from across our district and they continually tell me that one of their biggest challenges is finding employees. Workers can’t afford to live here.
Since my first session in office, I’ve filed and advocated for a bill that would give municipalities to the option to implement a 2% transfer fee on home sales over $1 million and generate new revenue for affordable housing. On top of my statewide enabling act, H.2895, I’ve also filed legislation on behalf of the Town of Nantucket that would allow the town to enact their own fee. As housing prices continue to skyrocket and push out working families, a transfer fee would generate significant revenue for new affordable housing development in our communities.
For many families and young people, homeownership is an important investment and a major step in gaining sound financial footing. However, it’s becoming increasingly difficult for young families to find available and affordable homes. Legislation I sponsor, H.2840, encourages prospective first-time homeowners to save up for a home by creating new homebuyer savings accounts that are tax-deductible.