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Princeton council adopts 2025 municipal budget; library and debt draws concern
Summary
Council approved the 2025 municipal budget and an ordinance to establish a cap bank. Council debate flagged a second consecutive 5% library increase and a $900,000 rise in debt service.
The Mayor and Council of Princeton adopted the municipality’s 2025 budget on April 16 after a public presentation from the chief financial officer and a roll-call vote.
Sandy (CFO) said the overall municipal budget rose about 3 percent and attributed increases to salary and wage adjustments, insurance, utilities, pensions and debt service. Sandy told the council the municipal tax rate will increase by 0.0124, which she said “equates to $106 a year,” and that when the library tax is included the increase becomes $134 a year.
Sandy said the administra…
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