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FinCom weighs CPA surcharge exemptions as a way to preserve revenue while protecting lower-income residents
Summary
Rachel Orr told the committee many Tisbury households would qualify for the CPA surcharge exemption, potentially preserving the full 3% surcharge while exempting eligible residents. She recommended adding an exemption notice to tax bills to raise public awareness.
Rachel Orr told the committee that under Tisbury's CPA rules income-eligible residents could be exempted from the surcharge and that the exemption application was a "straight-forward 2 page form." She noted that 80% AMI for a family of four was $130,480 while Tisbury's average household income was $111,700, meaning many local households could qualify for the exemption.
Orr recommended attaching an exemption notice to tax bills so that residents are aware of the option; the committee asked the assessor and staff to follow up. The discussion emphasized that the exemption mechanism could enable the town to retain the full 3% surcharge while limiting burdens on qualifying taxpayers.
