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Nantucket officials outline FY2026 budget, warn of tight levy capacity and large coastal projects
Summary
Town Manager Libby Gibson and finance staff presented FY2026 projections showing roughly $161.7 million in projected revenue and $161.4 million in recommended expenses, leaving limited unused levy capacity; presenters flagged large coastal-resiliency costs, PFAS remediation, and uncertainty in short-term-rental revenue.
Town Manager Libby Gibson and municipal finance staff presented an overview of the Town of Nantucket's fiscal 2026 budget to the school committee, laying out projections, major cost pressures and next steps toward town meeting.
Gibson said the budget packet and a detailed budget message are available on the town website and described the town's objectives: keep the recommended operating budget within projected revenue and address strategic priorities including housing and infrastructure. She noted public hearings and key dates: a public hearing the following day, FINCOM review between mid-January and mid-March, town meeting on May 3 and the election on May 20.
Brian Turbo…
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