Visual Data

Nantucket Budget Infographics FY2024

July 1, 2023 - June 30, 2024

The Big Picture

Nantucket's FY2024 General Fund Budget

$131M
Operating Budget
$13.6M
From Visitors
$38.9B
Property Value
$16.2M
Capital Projects

Where the Money Came From

Revenue Sources for FY2024

$145M
Total Revenue
81% Property Tax ($118M)
9% Rooms & Meals Tax ($13.6M)
3% State Aid ($4.5M)
2% Motor Vehicle ($3.1M)
4% Other Receipts ($5.7M)

Revenue Breakdown

Comparing the five major revenue sources

Property Tax
81%
$118.3M
Rooms & Meals
9%
$13.6M
Other Receipts
4%
$5.7M
State Aid
3%
$4.5M
Motor Vehicle
2%
$3.1M

Your Contribution as a Visitor

How tourism dollars flowed into Nantucket's FY2024 budget

🏖
Your Hotel Stay
+ Restaurant Meals
💰
Rooms & Meals Tax
$13.6 million
🏝
Town Services
10% of budget
$13.6M

Visitor Tax Revenue

The combined rooms and meals tax collected from hotels and restaurants

>10%

Share of Budget

Portion of Nantucket's general fund that came from visitor spending

$16.2M

Capital Projects

Additional capital spending approved at 2024 Town Meeting

Where the Money Went

Major expense categories for FY2024

Schools
Town Staff
Insurance
Ops
Retire
Other/Debt
Schools ~$30M
Town Salaries ~$22M
Medical/Insurance ~$20M
Operations ~$11M
Retirement ~$7M
Other/Debt Service
Schools
~$33M
Salaries
Town Staff
~$27M
Salaries
Insurance
~$23M
Benefits
Operations
~$11M
Day-to-day
Retirement
~$7M
Pensions

Services That Affect Your Visit

What your tax dollars help fund

🏖
Beach Maintenance
🚌
NRTA Shuttle
🚶
Bike Paths
🚓
Roads
🚖
Police
🚒
Fire & EMS
🚽
Restrooms
Harbor

Property Tax Context

Why property taxes dominate Nantucket's revenue

$38.9B
Total Property Value
#4
In Massachusetts
$3.13
Per $1,000 Value
$3,130

$1M Home Tax Bill

Annual property tax on a home valued at $1 million

$15,650

$5M Home Tax Bill

Annual property tax on a home valued at $5 million

Top 4

Massachusetts Ranking

Behind only Boston, Cambridge, and Newton in total property value

Capital Projects FY2024

$16.2 million in capital spending approved at 2024 Town Meeting

$16.2M
Capital Budget
$131M
Operating Budget
$147M
Combined Total

Capital projects fund infrastructure improvements, equipment purchases, and facility upgrades beyond day-to-day operating costs.

Data Sources

All figures from official Town of Nantucket documents