Gilbert is facing a tight budget for fiscal year 2024-25, based on hits to revenue streams and lingering inflation, town officials told council May 7.
Nonetheless, the town was able to hold the line on the secondary property tax rate at $0.98 per $100 assessed valuation. But to do it, it will have to dip into its reserves to fully pay the property tax levy of $33.28 million, Budget Director Kelly Pfost said.
“So I don't get to try and pinch $264,640 off of that, do I?” a wistful Councilmember Jim Torgeson said, referring to his successful effort last year to cut the levy last year and thus reduce the rate by a penny.
