I am opposed to the small increase in the sales tax for two reasons: It is the most regressive type of taxation and continues a practice of small increases that should be ended.
There is no sequester of tax proceeds that is actually protected from politicians’ dreams and desires. Secondly, if the objective is to fund environmental/water quality projects, a better way is to bond a group of approved projects, using the Community Preservation Fund as the first means of covering annual interest expense and repayment, and obligate the Town of Southampton to make up any shortfalls, including the debt service reserve fund. AAA-rated municipal bonds are paying about 4.1 percent on a tax-free basis, which is a great bargain.
I guess the new supervisor would rather bust the budget and not go through the somewhat involved process of gaining voters’ approval for the bond issue.
Ken Weinstein
Southampton
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