Shall the Town of Hampton vote to raise and appropriate the sum of $150,000 to engage the services of a licensed revaluation firm to perform a Town-wide revaluation of property in the Town of Hampton as required by the State Constitution and the Department of Revenue Administration during the tax year 2019. This shall be a non-lapsing appropriation per RSA 32:7, VI and will not lapse until the revaluation is completed or by March 31, 2021, whichever is sooner? (Majority vote required)
What it means: The $150,000 will fund the revaluation of all properties in Hampton. The last town-wide valuation was in 2016.
Those in favor say: This is a self-funding expenditure for most homeowners, because with all the new construction in town the updated valuation will distribute the tax burden more fairly.
Those against say: No one spoke against this Article at Deliberative Session.
Fiscal impact: The $150,000 cost in 2019 will create an additional tax cost for the average Hampton home valued at $405,000 of $18.36. (Take your property value divided by 1000 and multiply by .045 to get your specific tax impact.)