On November 6th, Franklin residents can approve the Community Preservation Act (CPA), which sets funds aside for four purposes:
1) Designation and protection of open spaces:
Setting aside land for non-residential use ultimately saves tax dollars by helping reduce the need for public expenditures on roads, sewer, water, schools, police, and fire, and improves the overall quality of life in town.
- Lands provide for passive and active recreation to all
- Helps purchase and preserve acreage currently threatened with development
- Permanent land protection with Conservation Commission or local land trusts
- Recreation improvements can be made on land purchased with CPA funds
2) Historic preservation:
- Library improvements
- Franklin Historic Museum improvements
- Inventory of historic buildings, land, and monuments
- Capital improvements to historic municipal buildings, such as schools
3) Housing that’s affordable:
- Would provide housing for Franklin residents
- Includes rehabilitating homes for eligible Franklin households
4) Parks and fields:
Active outdoor recreational facilities such as parks, playgrounds, skateboard parks, and athletic fields
Q: Who contributes?
A: All taxpayers, commercial and residential
Q: Who does not?
A: Senior citizens (60 and over) who earn up to the local median income ($65,920 per couple), low-income families, tenants, and tax exempt organizations such as Dean College and the Franklin Housing Authority.
Q: Who benefits?
A: We all do! Anyone who lives in or visits Franklin.
Q: How is this calculated?
A: Currently, a sample house valued at $438,000., taxed at $8.86 per thousand (2008 rate) pays $3,880.68 in real estate taxes. The CPA provides a $100,000 exemption. Your CPA contribution would be 3% of the property taxes after the exemption, as if that house were worth $338,000. For example:
House value: $438,000.
Less $100,000. Exemption
------------------------------------------------------------------
$338,000.
x .00886 Real estate tax rate
------------------------------------------------------------------
$ 2,994.68 RE tax after exemption
x .03 CPA rate of 3%
------------------------------------------------------------------
$ 89.84 CPA contribution
Q: Can the funds ever be used for any other purpose?
A: No. It’s the law.
If this sounds like a cost-sensitive way to preserve Franklin’s quality of life, then show your support by voting YES for Question 1, the Community Preservation Act (CPA), on November 6th!
For additional information please contact PreserveFranklin at verizon dot net
