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%