DOR announces CPA distributions

The Department of Revenue on Nov. 15 released the Community Preservation Trust Fund distribution for each CPA municipality.
 
In total, more than $36 million will be distributed to the 156 eligible communities.
 
All CPA communities will receive a 29.7 percent match on Round 1 of the trust fund distribution this year. Communities that adopted the CPA with a full 3 percent local property tax surcharge will receive a higher percentage.
 
The revenue from this year’s trust fund distribution comes from two sources: the recording fees collected over the past 12 months at the state’s registries of deeds and a transfer of $10 million from the state’s fiscal 2015 budget surplus.
 
The CPA allows participating municipalities to place a surcharge of up to 3 percent on real property in order to create a local dedicated fund for the four allowable CPA purposes: open space preservation, historic preservation, outdoor recreation and affordable housing. Adoption of the CPA triggers annual distributions from the state’s Community Preservation Trust Fund.
 
Distribution amounts from the CPA Trust Fund to communities have declined precipitously in recent years. At one time, the state’s CPA match was 100 percent.
 
For more information, visit the Department of Revenue website.