From CommunityPreservation.org
October 12th, 2012: Today the Massachusetts Department of Revenue (DOR) released the Community Preservation Trust Fund distribution for each CPA municipality. In accordance with Massachusetts General Law (MGL) Chapter 44B, Section 10, DOR annually distributes monies from the fund in mid-October to cities and towns that have adopted CPA. All CPA communities will receive a 26.83% match on round one of the trust fund distribution this year, almost identical to the round one match of 26.64% last year. Communities that adopted CPA with a full 3% local property tax surcharge will receive additional revenue on rounds two and three.
According to the DOR spreadsheet – that is a total match of $55,139 for Middleboro which is added to the local collection of $205,531 for a total of $260,270.
The local collection of $205,531 is collected by the town of Middleboro via a 1% surcharge on property tax bills minus an exemption for the first $100K in property value. The state match of $55,139 is up slightly from last year and is expected to increase significantly next year as a result of recent changes to the CPA law. Early guidance suggests that next year’s match will be between 40% and 45% – though of course that number is not guaranteed and we won’t know for sure until next year’s distribution is finalized.