If the proposed municipal, school, and county budgets are passed for 2015, the owner of a home in Princeton assessed at the town average of $796,000 would pay a total of $17,336 in property taxes in 2015, not including sewer fees.
The municipal portion of the tax would be $3,741. The school tax would be $8,512. The county tax would be $5,078.
The increase for the three taxes combined would be $282 for the homeowner assessed at the town average.
School and municipal budgets will be approved next month. The county freeholders usually approve the county budget in May or June.
Proposed municipal tax rate per $100 of assessed property value – 47 cents
Proposed school tax rate per $100 of assessed property value – $1.07
Proposed county tax rate per $100 of assessed property value – 63.8 cents
Total = $2.178 per $100 of assessed property value