Councilors Lydia Edwards (East Boston, Charlestown, North End) and Kim Janey (Roxbury) say the city's current affordable-housing efforts are not enough to stop the Manhattanization of Boston.
In a proposal filed Monday, the two propose a tax of up to 25% on transactions involving property bought and sold by the same entity within 24 months - a practice known as flipping - and a new tax of 6% on transactions involving pricey properties in the city.
In their proposal, the two say Boston's main affordable-housing program - requiring housing developers to set aside 13% of their units as "affordable" and office developers to pay into a housing fund - is aimed at people making between roughly $50,000 and $100,000 a year.
That means that poor people and people living in apartments are often squeezed out of the city because they do not make that much. The councilors say the flipping provision could reduce escalating real-estate speculation in poorer neighborhoods and that they would use the new money from the taxes, which they told the Globe could raise between $175 million and $350 million a year - to help residents at the lower end of the housing market stay in Boston.
The council will consider their proposal for a formal hearing on the proposal at its Wednesday meeting, which starts at noon in the council's fifth-floor chambers in City Hall. The measure would require the approval of the council, the mayor and, ultimately the state legislature and governor.