Princeton School Board Approves Tentative $91.4 Million Budget

Princeton, NJ -- The Princeton Public School District Board of Education approved a tentative $91.4 million budget that may result in an annual tax increase of $215.12 for the owner of an average Princeton home on Tuesday night, Planet Princeton reports.

The budget includes a $7o.7 million tax levy, an increase of $2.5 million over last year’s levy, according to the report.

The proposed operating budget is $83.4 million, with an additional $5.7 million owed in debt service, and taxpayers paying another $5.4 million in taxes for debt service, according to the report.

The school district may be able to exceed the 2 percent cap with the aid of two waivers, including one for enrollment growth and one for increased health insurance costs, and that doesn’t include $1.6 million for staffing and other requests.

The budget will go to the Mercer County Superintendent for approval. The public hearing and final approval is scheduled for April 26.