The 1% surcharge is based upon your real estate taxes (after a $100,000 exemption). For example:
- Your property is valued $500,000. The tax rate is $13.74 per $1,000. The real estate tax is: 500 times $13.74 = $6870.00.
- The surcharge is calculated by subtracting the $100,000 from the property value $500,000 minus $100,000 = $400,000.
- The CPA surcharge is: $400,000 times $13.74 (per $1,000) equals $5,496 1% times $5,496 equals $54.96.
- Your total taxes, including surcharge, would be $6,924.96.
It is shown on the tax bill as a separate item called “CPA Surcharge”.
Note: in 2022, the CPA surcharge will only appear on the 3rd and 4th quarter tax bills. Beginning August 2022, the CPA Surcharge will appear as 1/4 of your annual surcharge. Click Here to see a copy of a recent CPA Surcharge tax insert flyer.