FY2021 Community Preservation State Match - May 1, 2020
DLS customarily provides guidance on the estimated first round state match for the Community Preservation Act (CPA). While current events have made estimating the state match a challenge, we have calculated a conservative estimate for use in municipal budget discussions.
A change to fees collected by the Registry of Deeds went into effect on January 1, 2020. This change was implemented to boost the CPA trust fund balance to provide for a greater state match. The COVID-19 outbreak will undoubtedly have an impact on the transactions at the Registry of Deeds, however, and the magnitude of that impact is impossible to project. The best estimate we can provide, based on the current fund balance and an estimate of locally committed surcharges, would be a match of 11.2%.
We will provide updated guidance on the state match percentage as additional data becomes available.