Princeton consolidation pays off: $61M budget comes with tax rate decrease
PRINCETON — The savings that encouraged the former borough and township of Princeton to merge into a single town started to appear last night as the town introduced a $61 million budget and announced a tax rate decrease of just under 1 percent.
The budget is the united town’s first and roughly $3 million less than what the 2012 combined budgets were for the former township and borough.
Taxpayers will also see a slight decrease in their municipal tax rate. Whereas both towns paid roughly 47 cents per $100 of assessed property value last year, the new rate will be 46.3 cents, thanks to the merger.
“We’re paying less money in 2013 … than we were in 2009,” town administrator Bob Bruschi said. “We’re in a pretty strong financial position.”
The consolidation of the former borough and township was pitched to Princeton taxpayers as a way to save money, thin staff and maximize services.
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