Proponents of the Boston-only ballot measure “Question 5” won a decisive victory Tuesday night, with voters overwhelmingly voting to adopt a one percent property tax surcharge to benefit housing, parks, and historical preservation.

The city vote was 73.64 percent in favor of the Community Preservation Act (CPA) to 26.36 percent against — the “yeas” beating out the “nays” by more than 110,000 votes.

The CPA, a statewide program available since 2000, saw a very different outcome to the question in 2001, when Boston voted down a two percent surcharge. A broad coalition, including previously opposed business groups, rallied around the measure this year with the act heralded as an important additional revenue source for the three distinct investment categories.

Boston residents can expect to pay an average of $24 annually on top of their property taxes, according to officials. Including state matching funds, the city anticipates generating between $16 million and $20 million of new revenue per year from the measure.

Thadine Brown, the campaign’s treasurer, and Joe Kriesberg, president & CEO of the Massachusetts Coalition for Community Development Coalitions, congratulated volunteers and staff just after 9 p.m. at Tavolo Restaurante in Dorchester. “Thank you for all your hard work; thank you for your dedication,” Brown said to the roughly two dozen people gathered to celebrate the winning vote.

Kriesberg also extended gratitude to Mayor Martin Walsh, who campaigned in support of the measure, and City Councillors Andrea Campbell and Michael Flaherty, who co-sponsored the bill. “We could not have won without them, but they could not have won without us,” he said, to laughter and applause.

Funds raised through the CPA can only be allotted toward housing, historical preservation, and parks/green space. A minimum of 10 percent of the funds must go to each category, with a committee reviewing and approving the community-backed projects.

City and community leaders have touted the surcharge as a vital tool for maintaining city resources badly in need of funding. Across the Commonwealth, 161 cities and towns have adopted the measure.

In a statement, the “Yes on 5” campaign said, “This coalition has grown to an impressive and committed group of organizations and individuals, to faith leaders and religious organizations, to labor unions, to community activists and civic organizations, to small businesses, to ward committees and elected officials. This broad-based support was reflective of Boston’s make-up and geography, and it is our intent to stay together following this election to advocate for equitable distribution of these vital funds.

“We look forward to the next steps in this process and making a renewed investment in our neighborhoods through the Community Preservation Act.”