If all articles pass the municipal portion of the tax rate will rise from $6.32 in 2017 to $6.74 in 2018, or a 6.6% increase. The WWTP bond is not included in the 2018 $6.74 rate, as the bond is not anticipated to hit the tax rate until 2019. However, the bond if approved will add another $.19 to the muni tax rate bringing it up to $6.94 or an 9.8% increase as a result of Warrant Articles approved in March of 2018. Seven proposed articles are funded from the UFB (Unassigned Fund Balance aka accumulated surplus), which would result in a $540,000 withdrawal. Had the UFB not been used in these articles the impact, including the WWTP bond, would result in a muni tax rate of $7.10 or a 12.3% increase.
Warrant Article Created By: Selectmen
This union has had no increase in 2 years. If approved the average annual increase over the 5 year period will be 1.6%,
Shall the Town of Hampton vote to approve the cost items included in the collective bargaining agreement reached between the Hampton Board of Selectmen and the International Brotherhood of Teamsters Local 633, which calls for the following increases in salaries and benefits at the current staffing level, over the amount paid in the prior fiscal year:
And to further raise and appropriate $36,404 for the current fiscal year, such sum representing the additional costs attributable to the increase in salaries and benefits required by the new agreement over those that would be paid at current staffing levels? (Majority vote required)
Recommended by the Board of Selectmen 5-0-0
Recommended by the Municipal Budget Committee 7-1-1
Fiscal Impact Note (Finance Dept.) The estimated 2018 tax impact on $36,404 is $0.011 per $1,000 valuation (one point one cents per thousand dollars of valuation).