By Max Colice Belmont’s annual budget for the 2025-2026 fiscal year, approved by Town Meeting in May, is $166.23 million. Of that, $138.85 M (83.5%) comes from property taxes and debt exclusions. The rest comes from state aid ($15.5 M), auto excise taxes, and a variety of lesser sources. Just over 95% of property taxes come from residents, the remainder from businesses. The 2022 Collins Center Report on municipal best practices recommends that Belmont should develop new sources of revenue to mitigate the burden of property taxes, including a program for payments in lieu of taxes (PILOT). How much revenue [READ MORE]