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
Shall the Town of Hampton vote to raise and appropriate the sum of $316,231 for improvements to streets consisting of paving overlays, adjustments to structures to permit paving, repairs and replacements to drainage, repairs to sidewalks and driveway openings, crack sealing and curbing installation in accordance with the pavement management program or as required due to damage to roadways and improvements and repairs to Town Parking Lots and parking areas. Upon completion of the work scheduled in this warrant article, if funds remain unused the DPW may proceed to the next street(s) on their priority repair list until said unused portion is spent. Said appropriation to be offset by the State Highway Block Grant estimated to be $316,231. This shall be a non-lapsing appropriation per RSA 32:7, VI and shall not lapse until the projects are completed or by March 31, 2020, whichever occurs sooner? (Majority vote required)
Recommended by the Board of Selectmen 5-0-0
Recommended by the Municipal Budget Committee 9-0-0
NOTE - Block Grant was $307,854 in 2017
Fiscal Impact Note (Finance Dept.) No Tax Impact.