The Hampton City Council has approved the city’s budget for Fiscal Year 2027, totaling $708,640,649. This marks a 4.3% increase over the previous fiscal year, which concluded on June 30. Notably, the real estate tax rate remains unchanged at $1.14 per $100 of assessed value, following four consecutive years of reductions that lowered the rate from $1.22.
City Manager Mary Bunting emphasized that decisions regarding the tax rate are based on annual changes in property assessments. The budget allocates $327,998,571 to Hampton City Schools, with $101,902,502 coming directly from the city. This allocation exceeds the state’s required match of $61,239,442 by $40,663,060, reflecting the city’s commitment to education.
Residents can review the detailed budget and related documents on the city’s official website or by contacting the City Manager’s Office. The council encourages community members to stay informed and engaged in the city’s financial planning processes.