What it means: The petitioner is requesting that the tax impact of Warrant initiatives be represented on the ballot as both the dollar cost per thousand (current) and the specific impact on a property valued at $400,000.
Those in favor say: The intent of the Article is to make it easier for people to understand how much their own tax would be.
Those opposed say: People will still need to do the math, since only a subset of homes will have close to the $400,00 valuation. It will be a moving target, even to present it as the “average”, since valuations are likely to change with periodic revaluations. The cost per $1,000 is the “least common denominator” approach and is easy enough for most people.
Note: In the Know Hampton provides the translation to the average home value of $400,000 and will update the average each year.
Fiscal impact: No direct tax impact.