By now, your tax bill has arrived in the mail (and you have until August 23rd to make your payment without penalty). The Budget newsletter accompanying your bill does a good job of breaking down some key elements, which compile the full bill of taxes owed for the municipality, the public schools and the county.
As you can see, both Princeton Public Schools and Mercer County comprise the largest portions of your bill – at 47% and 29% respectively. But it is the municipal portion, at 21%, that handles things most residents need or encounter daily. So today, that is the portion we are going to delve into, to offer you some greater explanations about where your money is going and why it is needed.
WHO IS PAYING WHAT
To understand how municipal tax bills are formulated, it is important to first understand who is paying taxes. Princeton is home to numerous schools, charitable organizations, cemeteries and there is a lot of property in the area owned by the town or state. Those, in addition to disabled veterans, senior and affordable housing and other exempt entities, bring a lot of important value to Princeton – but they do not bring in tax money. While there are some payments in lieu of taxes given to the municipal coffers, the exemption of 882 entities means the tax burden is split amongst the 7,991 properties that make up the tax base.
For each of those tax-paying properties, an assessment is determined by Princeton Tax Assessor, Neal Snyder. In January, you should have received a postcard which details the assessed value of your property. This assessment is a percent of the market value of your property, which for 2024 was 70.51%, and it determines how much of the big pot you must provide. If you feel your assessment is not correct, you have 45-days to appeal before your value is weighed into the overall budget.
“The budgets come in spring or early summer and at the end of July, the state tells us how much we’ll get. That’s when the tax rate is struck,” notes Snyder.
THAT STRIKING NUMBER
When you opened your tax bill, your first reaction was likely the displeasure of noticing it is higher than last year. That is because the 2024 municipal tax rate increased by $0.025, the amount needed to cover a budget shortfall of $1.9 million. Over the past 10 years, the average assessed home in Princeton (valued at $853,136) has seen their property taxes go from $18,641 in 2014 to $22,719 in 2024, a 22% increase.
“The governing body could try to artificially keep taxes at the same rate for some number of years; but that method almost always ends up with a one-time significant ‘catch-up’ increase when you stop doing that,” Mayor Mark Freda explains. “And the impact is much worse on taxpayers; so, it is generally thought that the method of trying to control the increase as much as possible each year is ‘better’ for most taxpayers since a moderate increase per year is usually easier to handle than a one-time unanticipated large increase.”
DETERMINING THE FINANCES
The 2024 municipal budget is $74,514,097, and only 54% of that comes from taxes. As the Budget Newsletter details, there is other revenue from “parking and traffic enforcement fees, sewer fees, and fire and housing inspection fees.” Additional monies come from reserves, state aid, grants and payments in lieu of taxes (including Princeton University’s contribution), as well as from some of the nonprofit and other entities mentioned above. Princeton is currently sitting on a surplus that has increased $3.5 million, so why isn’t more of that used to keep taxes lower?
“We have to maintain a surplus,” Freda states. “The same as with someone’s home or personal budget. Unexpected circumstances, revenue that didn’t come in as expected, etc. Our surplus balance influences our financial rating, which drives what it costs us to issue bond anticipation notes and general obligation bonds for capital spending. The higher our financial rating, the lower those bonds cost us. So, the lower the tax impact of those bonds on our taxpayers.”
Still, Princeton used $11,708,000 of its surplus funds to help offset things. This came from two sources, 49% of the “current fund surplus” and 27% the “parking utility fund surplus.” In order to retain any necessary surpluses for the future, there is an expectation these funds will get replenished.
There’s also the reality that tax increases are in part due to the cost that services provided have gone up significantly, and those costs are passed onto taxpayers. Sewage treatment is one of these, but there is hope that the ongoing sewer replacement project will help to curb this down the road. Another increased expenditure is for trash collection, which is up $340,000 for 2024, despite the contract changes that were made.
As you pull out your 64-gallon can each week, you are kept keenly aware that the municipal trash collection system changed. Municipal leaders say this had to be done, or the costs would have become unaffordable. Despite best efforts, 2024 collection costs still increased 8% and waste transfer, known as tipping fees, were 17% higher than last year. Across town, nearly 7,500 trash cans are collected.
“The tipping fees are set by the Mercer County Improvement Authority on an annual basis and are based on their costs to accept, transport, and dispose of the solid waste at a landfill in Pennsylvania. The collection fees were set by contract at a fixed fee per month. The hauler determined their costs based on the number of 64-gallon trash carts to be provided and collected,” Freda explains.
WHERE DOES YOUR MONEY GO
Of the $74,514,097 collected, 41% of the budget is non-discretionary – meaning it is necessary and has to be paid out. There are opportunities within the remaining 59%, such as deciding to go with less expensive vendors, but much of the budget needs remain fairly consistent from year to year. The largest amount of tax income, 26%, goes towards government administration. This includes salaries and wages for the Mayor and Council, but also covers the Municipal Clerk, Chief Financial Officer, Tax Collector and more.
Capital investments, projects like the Witherspoon Street Improvements Project, which provide long-term benefit to the community, make up 18% of the budget. The rest is split between infrastructure/operations, public safety, recreation, health & social services, sewer and other budget contingencies. If you like to take advantage of the public parks and playgrounds, have ever called animal control or are grateful for the police and fire department services, this is where their funding comes from.
OPEN SPACE
There’s also a separate line item appropriated through tax collection for both county and municipal open space. In 2021, Princeton acquired 153-acres, the largest tract of undeveloped land in town, known as the Lanwin Provinceline Woods Property. It is located along Provinceline and Cherry Valley Roads. Money from the open space fund has been used to pay interest on the bond anticipation note and will be paying off the interest and principal once it’s converted to a permanent bond.
“In past years some money from this fund helped with the footbridge project at Mountain Lakes and for parking by the trail system at the Ridge. This budget also covers the tree inventory & environmental resource inventory. On a yearly basis does this budget funds trail clearing, park maintenance, and some related staffing costs,” details Freda. “So. our residents benefit from this fund literally every day.”
THE REST OF YOUR TAX MONEY
Beyond the municipal portion of your tax bill there are two other entities collecting taxes. As mentioned previously, the largest portion of your tax bill, 47%, goes to Princeton Public Schools. The budget is used to fund 4 elementary schools – Johnson Park, Littlebrook, Riverside and Community Park. It also funds Princeton Middle School and Princeton High School as well as providing money for Princeton Charter School, funding out-of-district placements and more.
In addition to a 2% Mercer County Open Space tax, the other entity you pay into, Mercer County’s $425.2million budget, is nearly $2m higher than last year. It helps to fund many things you may utilize such as Mercer County Park, Trenton-Mercer Airport and local roadways including Elm, River and Washington Roads.
If you have an eye for finances, you can take a closer look at the municipal budget here. Public hearings are held every spring, so if you are interested in understanding or weighing in on where your tax dollars go, keep an eye out for announcements usually in March for an April hearing date.
Lisa Jacknow spent years working in national and local news in and around New York City before moving to Princeton. Working as both a TV producer and news reporter, Lisa came to this area to focus on the local news of Mercer County at WZBN-TV. In recent years, she got immersed in the Princeton community by serving leadership roles at local schools in addition to volunteering for other local non-profits. In her free time, Lisa loves to spend time with her family, play tennis, sing and play the piano. A graduate of the S. I. Newhouse School of Public Communications at Syracuse University, Lisa was raised just north of Boston, Massachusetts but has lived in the tri-state area since college. She is excited to be Editor and head writer for Princeton Perspectives!
Summertime is when families enjoy a break, relax, maybe get away. It’s often a slower time of year, where students can give their brains a rest and even enjoy time at summer camp, with friends and loved ones. Conversely, in the weeks between late June and early September, school administrators find little time for relaxation as they work to review the past year, make changes for the upcoming year and get major construction and enhancement projects completed before Labor Day hits and the new influx of students arrive.
Princeton Public Schools likely had a longer “to-do” list than others, as it encompasses six schools and their buildings (plus the administrative building on Valley Road). With predicted enrollment for 2024-2025 at 3,651, it is the largest school entity in town. The district had to not only do the usual annual upkeep and adjustments but also complete a list of items remaining from the previous referendum (before a new referendum is expected to go to voters in January 2025).
The major construction projects of summer are currently underway at Princeton High School, where new security vestibules are being built at both the Tower and PAC (Performing Arts Center) entrances. Simultaneously, crews are making upgrades to the high school cafeteria, which include redesigned food stations, new furniture, better acoustics and, by creating more usable square footage, hoping to offer more seating options as well. These are anticipated to be completed just before school opens for the fall.
About five miles away, there is a brand-new STEM lab opening at 
Athletic improvements can also be found at 
If you drive up State Highway 206 and turn onto Edgerstoune Road, you will notice that a building has come down on 
There is new leadership at 
Not too far away, new talent is also in place at 
At 
With a Presidential election on the horizon, 
Another way to help its children become fully functioning members of society, 
It is summer, peak wedding season. As we attend, plan for or recall our own weddings, there is one common saying that comes to mind. It is from an old English rhyme, meant to provide for a future of happiness. As many begin their futures together this summer, we also look forward to a happy future for everyone around Princeton. So, we chose to incorporate this saying into the July issue of Princeton Perspectives, 
Sometimes old things demonstrate their strength and virility and other times, they show their weakness and frailty. Today’s old Northeast Corridor train line, which is America’s busiest line and runs in full 457 miles from Washington D.C. to Boston, was constructed between 1830 and 1917. Though the strength of its tracks enable it to still operate, it is very much showing its age – at least on the stretch between New Jersey and New York.
Something is not working right within the infrastructure owned by 
“We went through a period of 12 consecutive commutes with issues. Not just a small delay on the train but massive shutdowns where you have no idea if you’re getting home (or to work),” shares one local commuter, who has been commuting nearly daily since 2003. “A few years ago, NJT had what we recall as the ‘summer of hell’, but the difference there was a lot of the issues were planned work. Knowing an issue is coming, you can make alternate arrangements. This year these issues are unexpected; in many cases they start literally when you’re on your way to Penn Station.”
According to their statement, immediate actions being taken to try and resolve the issues include more frequent inspections of the tracks and overhead wiring structures between Trenton and New York City, installation of cameras to visually inspect the power connections, expanding inspections of overhead wire components through helicopter photography and a review of all of the issues with internal and external partners.
The customers, many of whom reside in this area, want more than just an investigation. How do they explain when the train “dies” just outside of NY Penn Station and commuters have to get out and walk the tracks to get into the station? As of last year, Princeton Junction Station was the 6th most populated station in terms of ridership, servicing more than 86,000 people. Princeton resident, Rob Ehee, is one of them. He has been community from there into NYC for 19 years, 3-4 times per week and says whether the problem lays with Amtrak or NJT, it is time to own up and fix it.
When problems are too disruptive, NJT cross honors tickets between its train and bus systems, hoping that will provide opportunities for commuters to get home. It also provides a link to help riders find options through 
With a Fiscal Year (FY) 25 operating budget gap of $106.6 million dollars, NJT says they had to work to prepare for growth, solve current and long-term funding needs and meet future demand. Using a three-pronged approach of trying to be more efficient, the fare hike and taking advantage of Governor Murphy’s Corporate Transit Fee, included in the FY25 State budget, they hope to get on better footing.
“The passengers are the ones who bear the brunt of it all. Frankly it’s inexcusable that NJT would continue to just blame Amtrak. Where is Governor Murphy through all of this? Where is all the money from the infrastructure bill? Supposed to be billions for Amtrak,” said a Princeton NJT commuter.
NJT also shared some additional longer-term plans to address the infrastructure which include “added resources to expedite testing of transformers in substations, pursuing additional grants to replace catenary, substations and transmission, signal lines, and to support capital renewal, as well as evaluating methods to expand overnight work windows with service adjustments to accelerate renewal and repairs.”
Triumph Brewery had been a well-known Princeton establishment. In fact, it was issued the very first brewpub license in the state of New Jersey when it first opened on Nassau Street in 1995. Through the years, additional locations in Red Bank and New Hope have found great success as well. But, as owner Adam Rechnitz looked to the future (and opportunity provided), he decided to relocate and take over the old post office building in downtown Princeton. His brand-new brewpub, now named 
The coordination meetings that Triumph had to engage in with Princeton engineering were due in part to a new hotel being built simultaneously nearby on Nassau and Chambers Streets. 
The Graduate hotel brand (found on or near over 30 college campuses across the country and UK) incorporates details from its nearby college or university into every aspect. The original structure that is housing Graduate Princeton was built by Princeton University as a student dormitory in 1918, so it provides an abundance of charm and history to pull from.
There is yet another opportunity that is rather new in Princeton but has been around elsewhere for a while – and that is 
On an outpatient basis, the center offers individual therapy, medication management and offers nursing services to link individuals to primary care needs they may have. It also helps people address housing needs and food insecurity, providing case management services. Around since 1971, Catholic Charities has over 60 Behavioral Health programs working to overcome the stigma of mental health treatment and provide help. Princeton is its newest location.
With eight people on site (including a psychiatrist, clinicians, office manager and those helping with housing and food insecurity), the center is there to help people on Mondays, Thursdays and Fridays from 9am-5pm and on Tuesdays and Wednesdays from 9am-8pm. Telehealth services are also available for those that can’t or choose not to visit in person. All those seeking help can contact the access center at 800-360-7711.
The story of jazz at Princeton is said to have begun at the university, and can be traced to around 1900, when some of the biggest names in jazz would come to perform in 
In cold, winter months, most people hibernate indoors. As the temperatures rise and the sun has a more daily presence, it entices people to come outside, creating wonderful opportunities to connect with the community and all that it offers. Whether it’s through meetups, music or visits in nature, there are many ways Mercer County entices you to join in the summer fun!
If you prefer not to walk alone or find having a meet-up appointment provides you with more incentive to show up, you can take part in the Saturday Morning Walking Club. An easy way to get you moving along the Lawrence Hopewell Trail, members of the public meet the 2nd Saturday of every month. The next one, on July 13th, takes you out for about an hour along a section of the nearly 22-mile trail. Starting points vary each month, so make sure you check the 
You could also get your body moving with a little soul-filling sound, as live outdoor concerts are a-plenty around the area. Live music events are a whole-body experience, said to create a sense of community, increase endorphins and help with stress. Whatever your preference of musical genre, you can find it somewhere this summer!
Whether you have a Jeep or not, you may like to spend the entire night outdoors. And you do not have to travel far to do so. Mercer County Park offers