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 $90,000 to carry out all lawful functions allowed under federal, state and local criminal justice forfeiture programs and to authorize the withdrawal of said sum of $90,000 from the Police Forfeiture Special Revenue Fund created for that purpose under Article 55 of the 2003 Town Meeting? (Majority vote required)
Recommended by the Board of Selectmen 5-0-0
Recommended by the Municipal Budget Committee 9-0-0
Fiscal Impact Note (Finance Dept.) No Tax Impact.