For the full wording of the Article, see this link: Link to the Warrant as Amended following Deliberative Session
What it means: The Town is seeking to add $500,000 to a Capital Reserve Fund that will help spread the cost of needed road work over multiple years. Savings will be available for future maintenance and improvements to the roadways and associated sidewalks within the Town of Hampton. Approval is required by Town Meeting (your vote) to make use of this Fund in the future. The current value of the fund without this appropriation, is $3,538,801. Note that the voters approved the use of $500,000 from this fund for the High Street project, but we did not need it, so the fund continues to grow and can be used to offset larger projects when the time is right.
Those in Favor Say: This is a way of saving money for larger projects so that the town is less reliant on costly bond funding, and can avoid “all at once” expenditures for the taxpayers.
Fiscal impact: A property valued at $650,000 would see a tax increase of $52.00 in 2025. Cost per thousand dollars of valuation is .08 cents in 2025. The same amount was in the 2024 budget that passed, so there is no incremental impact in 2025.
Note: We use the average cost per property for Hampton. There is “Cost per Warrant Article Calculator” on the Town’s website that allows you to enter your specific property value, and the see the cost for all Warrant Articles. You can access the Calculator here.