Vote Yes for CPA in Swampscott!
What is the CPA?
Enacted in 2000, The Community Preservation Act (CPA) and fund is sourced from the real estate transfer tax and is available for communities to help preserve open space and historic sites, create community housing, and develop outdoor recreational facilities. Over 195 communities have adopted the CPA, and the Trust Fund has distributed over $948 million in matching funds to projects in those communities, but not Swampscott...yet.
Why do we want it?
Only communities that have adopted the CPA get access to these funds. For the past 24 years, Swampscott has been helping to pay for other communities’ CPA projects. Adopting the CPA is a smart investment that gives Swampscott access to state funding. Once enacted we can preserve and create the things we love using a healthy dose of state funds and grants that only CPA members have access to instead of trying to compete for budget allocations with things like our Schools, Public Safety, and Infrastructure.
How does it work?
Money from the real estate transfer tax are collected into the CPA Fund every year. The state then allocates those funds to communities that have adopted the CPA based on the amount they raise through a small surcharge on their residential taxes. Communities have generally received between a 20-30% return on their own investment. Though communities can set their surcharge between 1-3%, Swampscott will be setting ours at 1.5%. This will be a percentage of your residential tax bill, not an additional percentage on the town’s current tax rate. The median homeowner in Swampscott can expect to pay just over $100 annually, but there are also exceptions so many seniors and those with low income won’t pay anything. Visit our FAQ to learn more.
How do we get it?
Show up to the polls and vote Yes on Question 6 this November 5!
