Hamlet Approves Cumulative Capital Development Fund Establishment

Hamlet Fall 5The Hamlet Town Board voted unanimously last night to establish a cumulative capital development fund for municipal use. It will levy a maximum tax of  $.05 per $100 of assessed valuation on property within the town limits. Money raised from the tax can be used for improvements to streets, sewers, parks, drainage or other capital improvements as outlined in state law.

No members of the public spoke during the public hearing on the fund’s establishment. The ordinance now goes to the state Department of Local Government Finance for final approval. The tax will be effective in the 2016 pay 2017 cycle.