DOR Issues Updated November 2019 Statewide Trust Fund Calculations
It took almost a year of effort by the Coalition legislative team, but we’re pleased to announce that CPA communities are finally receiving their share of $20 million dollars in state budget surplus funds. Because of a delay in the state legislature’s passage of an FY19 budget closeout bill, these surplus funds were not included in the CPA Trust Fund payment that was distributed in November 2019, hence the unusual distribution of a supplemental payment to all CPA communities this week.
In order to fairly distribute the surplus funding, the Department of Revenue (DOR) recalculated the CPA state match with this additional funding included and issued a second distribution to municipalities. With the budget surplus funds now added in, all CPA communities ended up with a match of 23.9% of their local surcharge revenue on round one of the trust fund distribution, with 3% communities receiving additional funding in rounds two and three. In total, more than $43 million has been distributed to the 173 communities eligible for a distribution.
Had the Coalition not been able to secure the additional $20 million during the state budget process, the round one match would have been only 13.9% - an all-time low. We are grateful to the legislature and the Baker administration for agreeing to provide state budget surplus funds for CPA and helping communities avoid a record low distribution.
Click on the links below for details on this year's distribution and to view the specific distribution amounts for each community:
PLEASE NOTE:
- When downloading the above spreadsheet, some users of Internet Explorer have reported that a dialog box appears asking for a user name and password. If this occurs, hit "cancel" and be patient while the spreadsheet downloads. Users of Firefox, Chrome, and Safari have reported no such issue.
- We have labeled this spreadsheet with a "V.3 FINAL" designation, to distinguish it from the preliminary information that DOR released in November 2019.
Statistics From This Year's Distribution:
- Total municipalities qualifying for a trust fund distribution on November 15, 2019: 173
- Match percentage received by municipalities with a CPA local property tax surcharge of less than 3%: 23.9%
- Match percentage received by municipalities with the maximum CPA local property tax surcharge of 3%: Range of 24.3% to 100%
- Number of municipalities receiving a full 100% match: 9
- Community with largest Trust Fund Distribution: Boston ($4,835,863)
- Community with the smallest Trust Fund Distribution: Gosnold ($718)
- Total payout in first round distribution: $38,312,864
- Total payout in second round distribution: $3,497,466
- Total payout in third round distribution: $1,957,153
- Total payout for all rounds: $43,767,483
Further Resources:
- Announcement of the original the November 2019 CPA Trust Fund Distribution
- "Budget Holdup Blocking $20 Mil CPA Fund Distribution" - State House News Service
- $20 Million in Surplus Funding for CPA Confirmed by State Comptroller
- Month-to-month CPA Trust Fund collections at the state's Registries of Deeds
- To determine the exact distribution each community receives, DOR follows a formula in the CPA legislation that calls for up to three rounds of trust fund distributions. Click here to learn more about how the statewide trust fund distribution works.