Thursday, October 8, 2020

Question of the day: "How is the CPA amount calculated?"

Question of the day:

 "How is the CPA amount calculated? Will the CPA surcharge be figured as 2% of my property value under the CPA?"

Answer: No. The CPA is a surtax of 2% of your real estate tax, not 2% of your property value. Also, the first $100,000 of residential property value is exempt, meaning that if your home is worth $300,000 only the tax on $200,000 is subject to the CPA surtax. 
 
For the average residential property owner in Franklin, the CPA will cost about $105 per year. 
 
Exemptions would be available for low-income families and for moderate income seniors.
 
 

If you have a question about how the Community Preservation Act (CPA) works, please email CPA4Franklin@gmail.com

 
 
Question of the day:  "How is the CPA amount calculated?"
Question of the day:  "How is the CPA amount calculated?"


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