The Gilbert Town Council voted unanimously Tuesday to adopt a preliminary $2.5 billion budget for fiscal year 2025-26, setting the maximum allowable expenditure level as required under Arizona law.
The decision came after a detailed presentation from town staff outlining both fiscal challenges and major capital investments planned for the coming year.
“Fiscal ‘26 is going to be a difficult budget year for the town, and the available revenues moving forward are also likely to continue to be tight,” said Town Manager Patrick Banger, citing a permanent $14 million reduction in annual revenue due to the elimination of the residential rental sales tax and changes in state shared income tax.
