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2017-03-27-CPC-ATM-rpt
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2017-03-27-CPC-ATM-rpt
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Last modified
12/14/2022 4:21:50 PM
Creation date
3/30/2017 9:05:01 AM
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Year
2017
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Community Preservation Committee
Department
Town Clerk
Keywords or Subject
Town Meeting Community Preservation Committee Report to 2017 Annual Town Meeting
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Community Preservation Act <br /> The CPA is a state statute which individual communities in the Commonwealth may <br /> choose to adopt; Lexington adopted the statute by a vote of Town Meeting in 2006. CPA <br /> communities impose a surcharge on their own property taxes of up to 3%, and funds <br /> raised from the surcharge are restricted to use for projects in four categories: community <br /> housing, historic resources, open space and recreation. To support expenditures in these <br /> areas, the state "matches" the funds raised by the community surcharges annually at a <br /> certain percentage. <br /> Lexington elected a 3% surcharge on both residential and commercial taxpayers. Mindful <br /> of the burden on homeowners, however, the Town also adopted provisions which exempt <br /> the first $100,000 of home value from the surcharge and grant a total exemption from the <br /> surcharge to lower income residents. In FY17, the annual surcharge averaged $361.71 <br /> billed per Lexington household. Our commercial and industrial taxpayers were billed <br /> $871,478.80 in FY17, representing approximately 19% of our billed CPA surcharges. <br /> The state match is distributed annually, based on the prior year's surcharge receipts. The <br /> match was originally 100%, but has declined since 2006 as additional communities have <br /> adopted the statute and joined the funding pool. The state match derives its revenue from <br /> fees collected at the Registries of Deeds across the state, but those fees have never been <br /> adjusted since CPA was signed into law in 2000. <br /> During the last three consecutive fiscal years, Lexington has benefitted from surplus <br /> transfers from the state budget to the CPA Trust Fund. The FY16 budget authorized the <br /> transfer of$10 million from the FY15 budget surplus, the FY15 budget authorized the <br /> transfer of$11.4 million from the FY14 budget surplus and the FY14 budget authorized <br /> the transfer of$25 million from the FY13 budget surplus. In July 2016, Governor Baker <br /> signed the fiscal year 2017 state budget which authorized the transfer of$10 million from <br /> the FY16 budget surplus, marking the fourth year the state budget included a surplus <br /> transfer to the CPA Trust Fund. Unfortunately, the FY16 state budget ultimately closed <br /> with a $0 balance, therefore eliminating the possibility of the $10 million transfer to the <br /> fund. <br /> In 2016, a record 16 communities in Massachusetts placed CPA adoption on their ballots. <br /> 11 of those communities voted during the November election to adopt the Community <br /> Preservation Act, including the cities of Boston and Springfield. While most of the <br /> adopting communities voted for just a 1% or 1.5% surcharge (Watertown adopted a 2% <br /> surcharge), the impact of these additional communities on future state disbursements will <br /> be seen in future fiscal years. <br /> While Lexington's FY17 state match is heavily impacted by the lack of state budget <br /> surplus funds and its FY18 state match expected to be impacted by the additional CPA <br /> communities, CPA advocates hope that these foreseeable decreases will strengthen the <br /> effort to pass legislation that calls for a permanent fix to the CPA Trust Fund. A piece of <br /> legislation introduced in 2015 entitled,An Act to Sustain Community Preservation <br /> 2 <br />
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