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 raise and appropriate the sum of $20,000 to engage the services of a professional financial advisor/engineer to study and report back to the Board of Selectmen to advise the Board and the Town on whether a sewer enterprise fund should be created that would remove sewer costs and expenses from the annual budget as a tax supported sewer system, as opposed to one that is supported by billing based upon volume of input into the system. The report should include drafts of potential billing rates in accordance with statutes, the impact, if any on the difference between billing for sewer changes verses maintaining said system on the property tax base, including the costs of bond payments for sewers by either method of payment, with said sum of $20,000 to come from the Unassigned Fund Balance. This will be a non-lapsing appropriation per RSA 32:7, VI and shall not lapse until the work is completed or by March 31, 2020, whichever is sooner? (Majority vote required)
Recommended by the Board of Selectmen 4-0-0
Recommended by the Municipal Budget Committee 5-3-0
Fiscal Impact Note (Finance Dept.) No Tax Impact.