How is the Community Preservation Tax calculated?
Example of how the Community Preservation Tax is calculated:
Property Type | Assessed Value | CPA Residential Exemption | Tax Rate per $1000 | CPA Surcharge | Calculation |
---|---|---|---|---|---|
Residential | $450,000.00 | $100,000.00 | $16.31 | $73.39 | =($450,000 - $100,000) x ($16.31/1000) x 3% |
Commercial | $900,000.00 | *N/A | $17.05 | $460.89 | =$900,000 x ($17.05/1000) X 3% |