CPA NEWS: 12-3-19
A major increase in funds to CPA member towns
This is the first in a series of news items on “big picture news” concerning the Community Preservation Act. As you may know, the citizen’s committee “Vote Yes CPA Burlington” plans to bring a warrant article for approval for a ballot question (to be placed on November 2020 ballot) to our Town Meeting in May 2020. The subject of Newsletter No. 1 is the new legislation that was passed in our State Legislature to increase the matching State Trust Fund to the locally collected revenues. Let us know if you have questions.
The recording fees have brought in approximately $24 million annually to the CPA Trust Fund, and we estimate that will rise to $60 million after the new fees are fully implemented.
While the FY20 budget was signed into law on July 31st, the Registries will not begin collecting the new fees until the end of the year. Here’s a breakdown of the timeline over the next few years: