How Will We Fund Our CPA Projects?
Shelburne's CPA will be funded by two sources:
#1 - The Town of Shelburne 3.0% Property Tax Surcharge
The 3% Surcharge will be collected beginning in the FY 2024, starting on July 1, 2023. A reminder that we chose the 3% to allow us to maximize the MATCH we will receive from the Commonwealth. We anticpate that this amount will be on the order of $90,000 per year.
We keep this money in Shelburne!
#2 - The Commonwealth of Massachusetts
Each year, the Commonwealth MATCHES our local dollars from the CPA Trust Fund. These funds come from fees paid to the Regtistry of Deeds for real estate transactions. Once we receive our MATCH, it stays in Shelburne until we spend it! We anticipate that this amount will also be on the order of $90,000 per year, giving us roughly $180,000 per year for our projects.