Belmont to See Increase in Round One of Community Preservation Trust Fund Distribution by DOR

The Community Preservation Act, signed into law in 2000, authorizes communities to create local Community Preservation Funds for the purpose of open space protection, affordable housing, outdoor recreation, and historic preservation. A community’s monies are raised through imposing a surcharge not greater than 3% of the tax levy on real property. Communities may adopt the CPA through ballot referendum. In addition, the CPA created the Community Preservation Trust fund, which is administered by the Department of Revenue. It distributes funds to communities that have adopted the CPA.

The Department of Revenue has announced that all Community Preservation Actcommunities will see a twofold increase over last year’s round one match for Community Preservation Trust Fund distribution, to 52.23%.

Having raised $900,751 in Fiscal Year 2013, Belmont, a CPA community, will see $470,418 from the round one distribution.

Published by Will Brownsberger

Will Brownsberger is State Senator from the Second Suffolk and Middlesex District.