© 2010 Marlborough Community Preservation Act Committee
Property Value
Surcharge at 1%
Surcharge at 2%
Surcharge at 3%
$100,000
$13.41
$28.62
$40.23
$200,000
$26.82
$53.64
$80.46
$300,000
$40.23
$80.46
$120.69
$400,000
$53.64
$107.28
$160.92
$500,000
$67.05
$134.10
$201.15
Total collection
$414,303
$828,000
$1,240,000
State portion
$111,861
$223,723
$338,494
Total CPA funds
$526,164
$1,052,330
$1,578,494
Property Value
Surcharge at 1%
Surcharge at 2%
Surcharge at 3%
$100,000
0
0
0
$200,000
$13.41
$26.82
$40.23
$300,000
$26.82
$53.64
$80.46
$400,000
$40.23
$80.46
$120.69
$500,000
$53.64
$107.28
$160.92
Total collection
$290,012
$580,024
$870,036
State portion
$78,303.
$156,606.
$234,909.
Total CPA funds
$368,315
$736,630
$1,104,945.
Table 1 - No exemptions
Table 2 - $100,000 property value exemption
Cost to residential property owners
CPA is funded by a 1 to 3 percent surcharge on the property taxes collected by the city plus state funds which come from registry of deeds fees. The state funds depend upon the total amount of surcharge collected, the number of participating cities and towns, and the percentage surcharge for each town. For FY10, the state contribution will be 27% of the locally generated revenue. Table 1 below shows the surcharge for property owners, based upon their property value and upon which surcharge percentage we decide to to impose. The amounts are based upon the 2010 Marlborough Tax rate of 13.41 per $1000 of property value. For example, a resident with $300,000 in property value would pay an additional $80.46 in taxes, if we elect to impose a 2% surcharge. Table 1 also shows that the total surcharge, at 2%, collected would be $828,000 to which the state would add $223,723 for a total of $1,052,330. Note that the amount of state funds for communities which select a 1% or 2% surcharge may be less than the amount shown, depending upon the number of communities which elect the 3% surcharge.
In addition to electing a 1%, 2% or 3% surcharge, each town may exempt a certain portion of residential property value for all citizens or special groups (seniors, low income, etc). Towns also have the ability to include or exclude certain commercial and industrial property into the taxable base. Table 2 shows the affect of a $100,000 property value exemption for all residential property owners on surcharges and upon the total collection.
The average property in Marlborough is valued at about $300,000. This means that for an average cost of $2 per owner, per week, the city will have $1M to use for CPA projects. More importantly, if we do nothing, then all of the state money we would get, will continue to be handed over to the towns around us which have enacted CPA.
CPA is funded by a 1 to 3 percent surcharge on the property taxes collected by the city plus state funds which come from registry of deeds fees. The state funds depend upon the total amount of surcharge collected, the number of participating cities and towns, and the percentage surcharge for each town. For FY10, the state contribution will be 27% of the locally generated revenue. Table 1 below shows the surcharge for property owners, based upon their property value and upon which surcharge percentage we decide to to impose. The amounts are based upon the 2010 Marlborough Tax rate of 13.41 per $1000 of property value. For example, a resident with $300,000 in property value would pay an additional $80.46 in taxes, if we elect to impose a 2% surcharge. Table 1 also shows that the total surcharge, at 2%, collected would be $828,000 to which the state would add $223,723 for a total of $1,052,330. Note that the amount of state funds for communities which select a 1% or 2% surcharge may be less than the amount shown, depending upon the number of communities which elect the 3% surcharge.
In addition to electing a 1%, 2% or 3% surcharge, each town may exempt a certain portion of residential property value for all citizens or special groups (seniors, low income, etc). Towns also have the ability to include or exclude certain commercial and industrial property into the taxable base. Table 2 shows the affect of a $100,000 property value exemption for all residential property owners on surcharges and upon the total collection.
The average property in Marlborough is valued at about $300,000. This means that for an average cost of $2 per owner, per week, the city will have $1M to use for CPA projects. More importantly, if we do nothing, then all of the state money we would get, will continue to be handed over to the towns around us which have enacted CPA.