A CPA fund is a dedicated fund for local community preservation projects and is composed of the following:
- Revenue from a 1.5% surcharge on Hull residents’ property tax bill (approx. $75 a year for the average household; see the CPA calculator)
- Matching funds from a dedicated CPA state trust fund paid into by all state taxpayers
Approximately $499,435 is expected to be raised in the first year for Hull. Any funds raised by the CPA can be used as leverage for additional grant money or bonding.