The county will take on an extra 600 teachers and school staff, 100 home care staff and more police civilians and social workers.
It will also be able to increase its capital budget by £20 million to £110m.
Hampshire's proposed budget will still be 4% below its permitted government spending limit.
Policy and resources committee chairman Freddie Emery-Wallis said: 'Because of our long standing policy of using the proceeds of our surplus land and property to finance as much new capital spending as possible, we are now spending 30m less than the government's assumptions about the cost of borrowing.
'This means we can pass the savings back to the council tax payers and also expand some of our essential services'.