Planet Princeton

Proposed Mercer County Budget Includes Slight Tax Decrease for Princeton Property Owners

The proposed 2015 Mercer County budget of $302 million includes a tax levy of $250.9 million, the same levy as last year.

If the budget is approved as is, Princeton property owners would see a very slight decrease in the taxes they pay to the county because of the way taxes are apportioned among municipalities in the county based on each municipality’s total ratables. County ratables are still $5 billion less than pre-recession levels.

Hamilton pays the largest portion of the county budget, 20.15 percent. Princeton is second at 17.3 percent. West Windsor is third at 14.6 percent.

The owner of a home in Princeton with a property assessed at the town average of  $796,000 would pay $5,078 in county taxes for 2015 under the proposed budget. That is a $24 decrease from the $5,102 the property owner paid in 2014.

The county budget calls for the use of $11 million of county surplus, leaving a $9.5 million balance.

Budget spending increases include salaries, health insurance, debt service and county airport upgrades.

The Mercer County Freeholders are reviewing the budget before it is approved.

 

 

Krystal Knapp

Krystal Knapp is the founding editor of Planet Princeton. She can be reached via email at editor AT planetprinceton.com. Send all letters to the editor and press releases to that email address.

2 comments

  • No mention here of the 7% increase (I believe it was) in 2014. Still well ahead of inflation and consumer costs. This is what happens when you vote for Democrats – you’ll see no end of higher and higher taxes.

  • The county stuck it to Princeton residents last year, and this year, the town (yes, the “consolidated” town which was supposed to cost less) is about to stick it to us. I’m glad to see the county hold the line–but I haven’t forgotten last year’s overrun (which we still have laid upon us).

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