Property value goes up; tax rate will go down

Homeowners in Hampton will see a reduction in their real estate taxes after property values in the city went up in the past year. The value of 99% of all properties in Hampton increased, according to figures presented to City Council on Wednesday by Assessor Libby Griebel. City Manager Mary Bunting said this reflects “a very healthy economy” in Hampton. The median increase in value was 16%, and those values are the basis for tax bills for Fiscal Year 2023. Bunting has said that the tax rate will be lowered for the fiscal year, though she said it was too soon to speculate on how much the tax rate would drop. For full information, click here.

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