Wednesday, October 7, 2020

Question of the day: "Does adopting the CPA mean there will be an additional tax when I sell my home?"

Question of the day:
"Does adopting the CPA mean there will be an additional tax when I sell my home?"
Answer: No. That additional tax -- the Deeds Excise Tax -- already exists, and all MA property owners pay it at the Registry of Deeds. Only communities that have adopted the CPA are eligible to get back some of the proceeds from that deeds tax when the state CPA Fund is distributed every year. 
 
Currently, Franklin property owners pay that tax and receive nothing back from it. That would change after Franklin adopts the CPA. 
 
 
Do you have a question about the Community Preservation Act? Send us your questions at cpa4franklin@gmail.com.
 
"Does adopting the CPA mean there will be an additional tax when I sell my home?"
"Does adopting the CPA mean there will be an additional tax when I sell my home?"


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