Los Gatos is facing a projected budget deficit of $5.6 million in fiscal year 2025-26, following the Town Council's approval of a balanced $60 million budget for 2024-25. Despite an expected surplus of $0.8 million for the current year, revenue declines necessitate a reevaluation of municipal services and funding priorities, according to town officials. Discussions include potential measures to increase revenues, such as a sales tax hike, although previous proposals were rejected. A draft budget will be available soon for public review.
The projected deficit is 'more significant' now than before, highlighting the need for reassessment of town services and revenue generation strategies.
Over the next few years, we have to change the direction... really consider what level of service needs to be provided, emphasizing the importance of service realignment.
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