Hampton’s long term debt will more than double
As we get closer to the March election there are several warrant articles that Rational Taxpayers of Hampton are vehemently opposed to. After factoring in the interest expense associated with proposed bonds, the overall request is to authorize $50 million of additional spending for 2017. This amount of new spending is incomprehensible to us given that this is essentially equal to Hampton’s total property taxes collected last year. To be clear, property taxes will not double in 2017, but Hampton’s long term debt will more than double.