1. Question: Is the CPA surcharge, paid as part of Real Estate taxes for property owners, tax deductible on Federal Tax returns?
Answer: According to the Community Preservation Coalition, the CPA surcharge would be treated the same as any other property tax and is deductible to the extent that any property taxes are. Yes, it is deductible.
2. Question: What are the income limits for the Low Income and Senior Low/Moderate income CPA exemptions for Tewksbury?
Answer:
For seniors (60 and over), anyone earning up to 100% of the area wide
median income can apply for an abatement:
1 person: $56,280
2 people: $64,320
4 people: $80,400
For non-seniors, the limits are 80% of median:
1 person: $45,024
2 people: $51,456
4 people: $64,320
(As of 3-7-05, Community Preservation Coalition)
3. Question: What is the impact on existing administrative support?
Answer: The Town Assessor reported to the Finance Committee that based on his projections of processing approximately 400 senior citizen exemption applications there would be an increase in workload of approximately 200 hours, which would equate to an approximate $5,000 administrative expense.
4. Question: Can CPA funds be used for CPA related administrative expenses in the Assessor’s office?
Answer: At this time, the answer is no. A bill was filed for this legislative
session addressing related expenses, but has not been acted upon. So at this point, those additional costs would not be able to be paid for from CPA funds
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