The governing body for the town of Princeton approved a 2014 municipal budget Monday night that keeps the tax rate constant at 45.4 cents per $100 of assessed property value.
The owner of a home assessed at the town average of $795,855 will pay $3,613 in municipal property taxes for 2014.
Councilwoman Jenny Crumiller questioned why the tax rate is not going down this year. The town budget is $59.2 million, a decrease of $1.2 million over last year’s 60.4 million.
Sandra Webb, the town’s director of finance, said the budget decrease for this year is a result of reducing the town’s capital reserves by $950,000 and reducing the town’s reserve for uncollected taxes by $450,000.
The total tax levy for this year is actually up slightly when compared with last year. The tax levy for the town, which includes the public library tax, is $30.7 million, up $200,000 from last year’s $30.5 million levy.
The council passed the budget by a vote of 4-2. Council President Bernie Miller, Councilwoman Heather Howard, Councilman Lance Liverman and Councilwoman Jenny Crumiller voted for the budget. Councilwoman Jo Butler and Councilman Patrick Simon voted against the budget because it included a salary increase for elected officials that was added to the budget via an amendment two weeks ago. Crumiller also opposes the raise, but said she did not want the debate to hold up the entire budget.
Editor’s Note: Story on fight over raises for elected officials to be posted later.