Sections 3 to 7 of Chapter 44B of the General Laws of Massachusetts, also known as the Community Preservation Act, establish a dedicated funding source 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 Winchester, the Community Preservation Act will be funded by an additional excise of 1.5% on the annual tax levy on real property to be assessed beginning in fiscal year 2026, and by annual distributions provided by the state. The Winchester Town Meeting has also accepted the following exemptions from such surcharge permitted under Section 3(e) of said Act: property owned and occupied as a domicile by any person who qualifies for low income housing or low or moderate income senior housing in the Town, as defined in Section 2 of said Act; $100,000 of the value of each taxable parcel of residential real property; and $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. 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 citizen will make recommendation on the use of the funds and all expenditures must be approved by Town Meeting.