Sections 3 to 7 of Chapter 44B of the General Laws of Massachusetts is also known as the Community Preservation Act (CPA). Towns that vote to adopt the CPA establish a ?CPA fund? that can be used for many purposes: to acquire and preserve open space, parks and conservation land, protect public drinking water supplies and scenic areas, protect farmland and forests from future development, restore and preserve historic properties, and help meet local families? housing needs. In Sherborn, the Community Preservation Act will be funded by an additional excise of 1% on the annual tax levy on real property to be assessed beginning in fiscal year 2026. In addition, the state makes an annual contribution to towns that have adopted the CPA, providing an increase in the town?s CPA fund. To reduce the burden on taxpayers, the following shall be exempt from the CPA surcharge: (1) the first $100,000 of the value of each taxable parcel of residential real property; (2) property owned and occupied as a domicile by any person who qualifies for low income housing or low or moderate income senior housing in Sherborn, as defined in Section 2 of said Act; and (3) the first $100,000 of the value of each taxable parcel of class three, commercial property, and class four, industrial property as defined in section 2A of said Chapter 59, which defines use classifications of real property for purposes of assessment of local taxes. A taxpayer receiving a regular property tax abatement or exemption will also receive a pro rata reduction in surcharge. A Community Preservation Committee composed of local citizens will make recommendations on the use of the CPA funds, and all expenditures proposed by the Committee must be approved by Town Meeting.