In what may have been the shortest annual meeting in recent memory, 294 residents packed the auditorium at Wilbur & McMahon School for Tuesday night’s Financial Town Meeting in Little Compton, approving 65 articles without debate. The meeting lasted just 19 minutes.

Passed by unanimous vote was Article 5, relating to the Agricultural Conservancy Trust (Ag Trust) recommendation to increase the transfer tax exemption amount from $300,000 to $450,000, while maintaining the existing four percent tax rate. Trust chairman Bill Richmond addressed the audience prior to the vote, noting that trust members considered the recommendation a compromise.

“We want to recognize the realities of the real estate market but at the same time, we want to keep the work of the trust going.”

The measure, seen by one affordable housing advocate as a small step in the right direction, passed unanimously via voice vote.

Tuesday’s vote also confirmed the budget committee’s recommended budget of $17.7 million for the coming fiscal year beginning July 1. The tax rate rises from $4.95 to $5.08, meaning taxes on a home assessed for $600,000 will increase by $72 next year.

Also at town meeting, D. Craig Curtis, Jr. (154 votes) and Alison Monds Ward (189 votes) were elected by ballot votes to fill two vacancies on the budget committee. Incumbent Corey Soderlund received 115 votes.

Residents approved Articles 6 through 62 without discussion.