On a residential property, the CPA surcharge
applies to the tax on the property after $100,000 is deducted from the
assessed value. This means that no homeowner's property taxes will go
up by 3% and that the average increase in town would be about 1.8%. It
also means that wealthier homeowners will pay a greater share of the CPA burden.
The CPA surcharge calculation is 3%
x
tax rate x
(appraised value - $100,000).
For the average taxpayer the
calculation would work like this
Value of the residential property |
$257,650 |
1. subtract $100,000 |
- 100,000 |
|
$157,650 |
2. multiply by the tax rate
14.38/1000 x $157,650 = |
$2,267
|
3. multiply adjusted tax by 3%
.03 x $2,267 = |
$ 68 |
|
or $34 per
tax bill
|
The following table shows the CPA payment per tax bill for
various property values.
