Politics & Government
Princeton Council Approves $62 Million Budget
The budget was approved Monday night after a previous vote was postponed in an effort to make additional cuts.
Princeton, NJ -- Princeton residents will see a tax increase after council approved a $62 million budget with a $1.2 million increase over last year, Planet Princeton reports.
The tax increase means the owner of the average $810,000 home in Princeton will pay about $3,900 in municipal taxes this year.
About $10.1 million of this year’s budget is for debt service, according to the report. The amount the town owes for borrowing money increased by 2.5 percent this year.
Find out what's happening in Princetonfor free with the latest updates from Patch.
The vote had previously been postponed because council needed to cut an additional $150,000 to avoid a further tax increase. Council couldn’t come to a consensus on where cuts should be made.
Ultimately, two cuts were made, according to the report. Princeton postponed the purchase of a new police car, and a new hire for the sewer operating committee.
Find out what's happening in Princetonfor free with the latest updates from Patch.
Read more at planetprinceton.com.
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