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 …

Community Preservation Act changes incorporated in FY13 Budget

The FY13 budget includes important changes to the Community Preservation Act and, most notably, provides additional funding. The funding from the state level is substantial, but is only a contingent commitment in FY13 and not at all guaranteed in future years. The budget does give municipalities additional flexibility to apply local revenues to CPA purposes.