The Town of Oyster Bay passed a $354 million budget for 2026, which includes the first property tax increase in years.
The town’s total levy from 2025 to 2026 rose from $232,987,299 to $242,211,595, marking a $9,224,296, or 3.81%, increase. Town officials said the average homeowner will pay $150 per month in taxes, which is roughly a $6 monthly increase.
The town cut taxes in 2018 and then relatively froze the tax rate for the next seven years. The 2026 preliminary budget marks the first time since Joseph Saladino became the Oyster Bay Town supervisor that taxes have risen. Town officials said the 2026 budget absorbs rising expenses, including inflation, health care costs and labor.
Saladino wrote in the budget that the town promises to ensure fiscal stability and deliver high-quality services.
“We are committed to serving residents while responsibly budgeting for the future,” he said.
Roughly 73% of the town’s revenue will come from property taxes, with another 5% coming from state aid, 5% from local government assistance, 6% from charges for services, 9% from other general revenues, 1% from operating grants and contributions, and the remaining 1% from capital grants and contributions. The full budget marks a $10.2 million increase from the 2025 budget.
The town board held its usual 10 a.m. meeting, and then another session at 7 p.m. on Tuesday, Oct. 21. Rob Darianzo, the town’s director of finance, presented the budget to the board.
“Our town has earned a great recognition for its financial stewardship, finest services, and quality of life,” he said.
Darianzo said that since 2017, the town has earned 10 credit upgrades from globally respected financial agencies including Moody’s Investor Services and Standard & Poor’s Global Ratings. Over the same period, the town has reduced debt by $185 million, he said.
“The 2026 preliminary budget continues to ensure important infrastructure investments to be made through road repaving, sports field improvements, parking enhancements, and the costly annual rebuilding of TOBAY Beach,” he said.
The town provided two opportunities for the public to ask questions, as it does each year, about the budget before it was passed. No residents spoke during either public comment period.
The town’s budget will run through the end of 2026.
