The township governing body will hear a presentation tonight from a New England economist about balancing municipal and non-profit interests when considering payments in lieu of taxes.
The presentation is open to the public and will take place at the start of the regular township committee meeting at 7 p.m. in the courtroom at the township municipal building, which is located at 400 Witherspoon Street.
Kenyon, who holds a doctorate in economics from the University of Michigan, is a fellow at the Lincoln Institute of Land Policy, which is based in Cambridge, Mass. She has studied the PILOT issue in depth in the Boston area related to institutions like Harvard and MIT.
She formerly headed D. A. Kenyon & Associates, a public policy consulting firm in Windham, New Hampshire. She also served on the New Hampshire State Board of Education from 2006 to 2009.
In a press release about the presentation, Township Mayor Chad Goerner said the issue is an important one in Princeton as residents face increasing tax pressures. The township and borough are home to many non-profits, the biggest being Princeton University.
The amount the university should pay in lieu of taxes has been a contentious topic in recent years, with many officials and resident arguing the Ivy League school is not paying its fair share.
“With municipalities facing unprecedented financial pressure it’s incumbent upon us to look for all sources of potential revenue. Tax-exempt properties enjoy the same municipal services afforded taxpaying residents and businesses, and often have land holdings far in excess of typical homeowners and businesses,” Goerner said. “Therefore, tax exempt property owners should be asked to pay their fair share of the property tax burden.”