Gilbert’s largest budget ever earned unanimous preliminary approval from Town Council on May 2, pushing the town across the $2 billion threshold for the coming fiscal year.
Council also approved a $31.6 million preliminary secondary property tax levy, also a record size but one that keeps property owners’ tax rate flat at $0.99 per $100 assessed valuation. That passed on a 6-1 vote with Council Member Jim Torgeson voting in dissent.
As such the town’s property taxpayers will pay more as a function of the increased value of their homes. State law caps that increase at 5% under most circumstances as it relates to property tax valuation.
