They will tape you, don't worry so much about the weight, worry about the BMI.
Our DS is 5'10 and 147 lbs, so he is constantly taped. It isn't a big deal. It becomes a big deal when you need a waiver for being taped. DS was told flat out for SFT, if you lose 3 lbs there you will need a waiver. Fear set in because being in Alabama in August in the field, you can easily sweat out 3 lbs.
Keep working out, and most likely your weight will go up because it will turn into muscle which weighs more than fat. It is also tricky because muscle burns calories at a higher rate, so you need to perfect that workout to maximize muscle while minimizing fat burning.
The 86 right now is considered low, but take a look at where you are weak. Most likely it is one specific area. Upper body, running, etc. Work out concentrating on that one area. For ex: if you are maxing the run, lower the frequency and work out on push ups instead. If you can max those two, but can't do a butterfly kick, work out on getting that perfected.
The goal is to work on your weaknesses while maintaining your strengths. By doing the whole PFT over and over again you are being like a hamster in the wheel...getting nowhere fast.
Hope that helps.
OBTW for our DS he always maxes upper body, so he only does that @1 a week, he is weak in his run, so that is where he always trains. He changes it up, plays racquetball, soccer, football, etc on off days, this allows him to work on stamina too, because the way the PFT is administered is a change up. He scored the last one with a 97.