Click here to see the wording of this Article as it appears on your ballot.
What it means: Establishing and funding a Capital Reserve Fund helps spread the cost of needed work over multiple years. With this fund, monies are saved for current and future maintenance and improvements to the roadways and associated sidewalks within the Town of Hampton. Approval is required by Town Meeting to use this Fund. The current value, without this appropriation and after the allocation of $500,000 towards the 2022 approved High Street Improvements project is $1,981,710. Projects that may be considered using funds from this reserve account could include, but are not limited to:
- Moulton Road Improvements
- Ross Avenue Improvements
- Winnacunnet Road Improvements
No one spoke for or against this Article at the Deliberative Session.
Fiscal impact: Cost per $1,000 valuation is $0.127. A household valued at $400,000 would see a tax increase of $50.80 for 2023. However, $300,000 was approved and was part of our 2022 tax bill. As a year-to-year comparison, this would increase the tax bill by .058 per $1,000 of valuation or $23.20 for a property valued at $400,000.
Discover more from In The Know Hampton
Subscribe to get the latest posts sent to your email.