ASSESSORS NOTICE
FOR FISCAL YEAR 2006
3%
SURCHARGE APPEARING ON YOUR TAX BILL
The Town of Tyngsborough voted to adopt the Community
Preservation Act (CPA) to begin in Fiscal Year 2002. This law requires the Town to place a 3% property tax surcharge
on each parcel of taxable real estate. The surcharge will fund the acquisition
and preservation of open space land, historic resources and community housing.
There is an exemption of the first $100,000 of the assessed
value on all Class One, Residential properties. See below for an example of the tax and surcharge calculations
for a residential property.
|
ASSESSED VALUE |
EXEMPT VALUE |
CPA TAXABLE VALUE |
EXAMPLE CPA TAX DOLLARS |
|
$100,000 |
$100,000 |
-
0 - |
-
0 - |
|
$120,000 |
$100,000 |
$20,000
x $11.60* |
$232.00 x 3% = $6.96 |
|
$150,000 |
$100,000 |
$50,000
x $11.60* |
$580.00 x 3% = $17.40 |
|
$200,000 |
$100,000 |
$100,000
x $11.60* |
$1,160.00 x 3% = $34.80 |
|
$300,000 |
$100,000 |
$200,000
x $11.60* |
$2,320.00 x 3% = $69.60 |
*Indicates Example
Tax Rate (Not Actual)
You may be eligible for an additional exemption if you meet the criteria
listed below as of January 1, 2005.
1. Senior households with an owner 60 years or older, that qualify as low or
moderate income, are totally exempt.
The maximum net income after allowable deductions is $56,300 for a
single person and $64,350 for a two person household. Additional household members income must also be included.
2. Other
households with an owner who qualifies as low income may be eligible for an
exemption. The low income household
limits are as follows:
2 Persons: $51,500
5 Persons: $69,500 8
Persons: $84,950
3 Persons: $57,950 6
Persons: $74,650
Applications for this exemption must be filed
annually, by January 1st, or 30 days after the tax bills were
mailed, whichever is later. C.P.A.
applications are available at the Assessors Office. Questions should be
directed to the Assessors Office at (978)
649-2300 extension 121.