Schools
5 Percent Tax Increase Possible As Part Of Princeton School District's Draft Budget
The $95 million draft budget proposes an average increase of $363.89, according to the Princeton Packet.
PRINCETON, NJ — The average homeowner in Princeton would pay an additional $363.89 in school taxes as part of a $95 million draft budget discussed by the Princeton Public School District Board of Education earlier this week, the Princeton Packet reports.
The tax levy overall would be $79.4 million. The tax increase comes out to about 5 percent, according to the report.
During its budget workshop on Tuesday night, school officials acknowledged an additional $826,266 it must pay to the Princeton Charter School as part of the expansion that was approved by the state last week.
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The school district’s spending plan is projected at $3.7 million, but the district must also close a $388,115 budget gap to balance the plan.
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