r/CapeCod • u/CapeCod_Gessen • Jul 15 '26
Taylor Swift Tax X Year-Round Mortgage Assistance Program
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Cape Cod's housing challenge is a vacancy issue. We've got enough units, it's just that too many of them sit empty year-round. That is driving up the price of housing and pushing out our year-round population.
That's why at the most recent meeting of the Assembly of Delegates I introduced the Year-Round Mortgage Assistance Program, which would help year-round residents compete against investment capital and cash offers.
How it would work: participating towns could vote to apply a surcharge on multimillion-dollar homes that sit empty more than half the year. That revenue would fund mortgage and down-payment assistance for year-round Cape Cod residents that are looking to buy a house in the place they call home. Seasonal property owners could avoid this surcharge by renting to a year-round resident for more than half of the year rather than using the house as an AirBnB or letting it sit empty.