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Community Preservation Coalition

 
CPA UpdateMarch 9, 2011
DOR Issues Estimate for October 2011
CPA Trust Fund Distribution

 

The Massachusetts Department of Revenue (DOR) has released a projection of the first round CPA Trust Fund distribution that communities can expect to receive on October 15, 2011. DOR is estimating that the first round distribution will be 25% of the amount that communities raise from their local CPA surcharge.

Cities and towns that have adopted CPA at the full 3% local surcharge will receive additional funds on the second and third distribution rounds, however it is still too early to estimate these distribution amounts.

 

Below is today's announcement from DOR's website:
During FY2011, 143 cities and towns collected the local Community Preservation Act (CPA) surcharge and are eligible for matching grants in FY2012. The Division of Local Services (DLS) estimates that the balance in the state trust fund will be sufficient to provide a first round match of 25 percent of the surcharge levied by each city and town. This will trigger a second round or equity distribution for those cities and towns that have adopted the maximum three percent surcharge. With the equity distribution, the total reimbursement for qualifying cities and towns will increase, depending on their decile and total surcharge amount. Please note that these estimates are subject to change depending on Registry collections between now and September.
Click here for an explanation of the formula used to distribute CPA trust fund payments

 

A distribution rate of 25% on the first round represents a decline from last year's 27%. The Community Preservation Coalition has been advocating for passage of An Act to Sustain Community Preservation - a bill designed to stabilize and strengthen the Community Preservation Act. One of the most important amendments in this bill would increase the annual minimum CPA trust fund distribution. 

 

Learn more about An Act to Sustain Community Preservation.


Questions? Call the Coalition at 617-367-8998 or visit our website. 
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