On November 6, voters in eight Massachusetts communities -- including Boston, Malden and Waltham -- rejected a ballot measure that would have raised property taxes by up to three percent to fund affordable housing, historic preservation and open space initiatives. The Community Preservation Act was approved by five communities -- most notably Cambridge and Newton -- joining 31 other municipalities that have already adopted the CPA assessment, making them eligible for state matching funds in 2003. MTF's recent analysis of the measure showed that businesses would have paid for the majority of the tax increase in most of the larger communities voting on the measure this fall. As it now stands, businesses will pay for most of the tax increase in only three municipalities -- Ayer, Bedford and Cambridge. Residential property owners will pay for 69 percent of the CPA assessments in the 36 cities and towns that have so far approved the measure.
Eight Communities Reject CPA, While Five Approve Property Tax Surcharge
On November 6, voters in eight Massachusetts communities -- including Boston, Malden and Waltham -- rejected a ballot measure that would have raised property taxes by up to three percent to fund affordable housing, historic preservation and open space initiatives. The Community Preservation Act was approved by five communities -- most notably Cambridge and Newton -- joining 31 other municipalities that have already adopted the CPA assessment, making them eligible for state matching funds in 2003. MTF's recent analysis of the measure showed that businesses would have paid for the majority of the tax increase in most of the larger communities voting on the measure this fall. As it now stands, businesses will pay for most of the tax increase in only three municipalities -- Ayer, Bedford and Cambridge. Residential property owners will pay for 69 percent of the CPA assessments in the 36 cities and towns that have so far approved the measure.
