THE COMMITTEE

* Marilee Kenney
   Hunt - Chairman

* Peter Colombotos
  ViceChair/Secretary

* Robert Vazza -
   Treasurer
 

--> Complete Committee List

Print Friendly
 

2005 Information

How much will the surcharge be?

After excluding the first $100,000 of the assessed value of a given property, the town will levy a 2% surcharge on the remaining tax bill. As an example, the surcharge on property with an assessed value of $278,000 (the median in Bridgewater) would be about $40 per year.

Are there any exemptions to the surcharge?

In addition to the $100,000 exemption for every residential property, a senior couple or a non-senior family of four earning less than $58,320 would be completely exempt from the surcharge. Also, anyone (visually impaired, disabled, elderly) who is currently exempt from property taxes under any other Massachusetts law will also be exempt from the surcharge.

** Click Here for the exemption application **

How much can Bridgewater expect to raise from the CPA if it is adopted?

Bridgewater could expect to raise roughly $280,000 in local surcharges annually, which would then receive a 70% or more state match annually from a dedicated Community Preservation Fund.

With the State in tough fiscal shape, are the State matching funds secure?

The revenues for the Community Preservation fund are generated through surcharges on recording fees collected by the Registrar of Deeds. These funds cannot be withdrawn or reallocated without repeal of the CPA by the state legislature. On October 15, 2004, the Massachusetts Department of Revenue distributed $30.76 million to 61 cities and towns--a 100% match for every town that adopted the CPA.

How long does the CPA remain in effect?

The CPA remains in effect for a minimum of five years from the date of voter approval. After five years, it can be revoked the same way it was approved. At any time the town may decide to amend the exemptions or reduce the percentage of the surcharge. However, the surcharge can never exceed 3%.

Who decides how the funds will be spent?

A local Community Preservation Committee consisting of a representative from each of the following town boards: the Conservation Commission, the Historic District Commission, the Planning Board, the Parks Commission, and the Housing Authority. Though the Committee will recommend how to spend the funds all spending decisions must be approved by Town Meeting vote.

Are there requirements for how the funds must be spent?

The state law requires that a minimum of 10% of the funds raised in any year be allocated to each of the three areas: open space, historic preservation, and affordable housing. The remaining 70% can be spent in any one of the three areas. The Town does not have to spend funds each year and may decide to defer spending in a given year to store up funds for a larger expense. The town could also issue bonds in anticipation of the collection of future local funds.

• Open space: purchase of existing open space, creation of recreation sites, or the purchase of development rights along river corridors or near public water sources (e.g., farmland, the creation of a park at the Stanley Iron Works site).

• Historic preservation: restoration of municipal buildings for government or community use, creation of a low-cost loan fund for restoration of private or public historic properties. Examples might include restoration of the Academy Building.

• Affordable housing: development or refurbishment of low-income housing (e.g., for a 4-person family earning less than $58,320) or senior moderate-income housing (for a 2-person senior household, over 60, earning less than $58,320). This would help Bridgewater meet the state Chapter 40B requirement that at least 10% of housing be affordable within the community.