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: Citizen Petition
Shall the town of Hampton vote to raise and appropriate the sum of $520,000 for the construction of an Americans with Disability Act (ADA) compliant 6 foot sidewalk on the west side of Mace Road including installation of ADA compliant ramps and crosswalks connecting Mill Road to High Street.
Recommended by the Board of Selectmen 5-0-0
Not Recommended by the Municipal Budget Committee 3-8-0
Fiscal Impact Note (Finance Dept.) The estimated 2018 tax impact on $520,000 is $0.156 per $1,000 valuation (fifteen point six cents per thousand dollars of valuation).