Taxpayers occasionally ask about the CPF charge that appears on their tax bills. <\/SPAN>This note briefly explains the purpose of this charge and how it is calculated.<\/SPAN><\/P> <\/SPAN><\/P> Sudbury<\/SPAN> voters adopted the Community Preservation Act (CPA) in March 2002. It establishes a funding source (the Community Preservation Fund, CPF) financed by residential property tax surcharge revenues for the purpose of open space, recreation, historical preservation and community housing projects<\/SPAN><\/STRONG>. The State provides matching funds for projects funded by the CPF.<\/SPAN><\/P> <\/SPAN><\/P> The following example shows how the 3% surcharge is calculated and included in Sudbury FY08 tax bills based on a hypothetical residential property valued at $500,000.<\/SPAN> <\/P> Assessed Value = $500,000<\/SPAN><\/P> Basic Tax: $500 x 14.27 = $7,135.00<\/SPAN><\/STRONG> (without the CPF surcharge)<\/SPAN><\/P> The first $100,000 of Assessed Value is exempt from the 3% CPF surcharge: $500,000 – 100,000 = $400,000<\/SPAN><\/P> Basic Tax on adjusted value: $400 x 14.27 = $5,708.00<\/SPAN><\/P> 3% CPF surcharge on adjusted basic tax: $5,708.00 x .03 = $171.24<\/SPAN><\/STRONG><\/SPAN><\/P> Total Tax (incl. CPF): $7,135.00 + $171.24 = $7,306.24<\/SPAN><\/STRONG><\/SPAN><\/P> More information on the CPA is available on the website for the Massachusetts Department of Revenue, Division of Local Services.<\/SPAN><\/P><\/p>\n","protected":false},"excerpt":{"rendered":" Taxpayers occasionally ask about the CPF charge that appears on their tax bills. This note briefly explains the purpose of this charge and how it is calculated. Read full article
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