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Gilbert adopts FY2026 budget and sets secondary property tax levy; Ford Lightning purchase held pending EV study
Summary
The Town Council adopted the final Fiscal Year 2026 budget, maintained the secondary property tax levy at $34,838,000, and approved holding a planned Ford Lightning vehicle purchase until a council study session on electric vehicles; the budget reflects multi‑million dollar state revenue losses and a $1.7 billion CIP.
The Gilbert Town Council on June 10 adopted the Fiscal Year 2026 budget and set the secondary property tax levy at $34,838,000.
Town Manager Patrick Banger and Finance Director Kelly Fost outlined fiscal pressures facing the town, including an estimated $9 million ongoing loss of residential rental revenue resulting from state legislative action and roughly $4.5 million in reduced state shared income tax for the coming fiscal year; staff described the…
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