How much will a typical homeowner pay as a CPA Surcharge?

For example, as of this writing in 2012, if the average home assessed value is $320,000 and at the current residential tax rate is $14.93 per $1000 of value in Tewksbury, the following illustrates the CPA surcharge that would be paid by an average homeowner.

Starting with the home value example - $320,000 

Deduct the first 100K exemption - $100,000

Yield - $220,000

$220,000 times the tax rate of $14.93/1000 = $3,284.60

$3,284.60 times 1.5% CPA surcharge = $49.27 per year CPA Surcharge

Note: This information is subject to change over time. For direction to more specific information, please contact the Tewksbury Office of Community Development, 978-640-4370.

Show All Answers

1. What are the income limits for the Low Income & Senior Low / Moderate income CPA exemptions for Tewksbury?
2. How much will a typical homeowner pay as a CPA Surcharge?
3. Is the CPA surcharge, paid as part of Real Estate taxes for property owners, tax deductible on Federal Tax returns?