The board of education for Princeton Regional Schools approved a tentative budget for the upcoming academic year.
A more detailed version will be presented at the board’s meeting later this month and a public hearing will be held before the budget is voted on.
The budget includes an additional $342,000 for charter schools over last year’s budget and a $62.2 million tax levy.
An average Princeton Township home — valued at $827,000 -— would experience a $102 tax increase, officials told the Times of Trenton.
Taxes on an average Princeton Borough home — valued at $747,000 — would increase by $97.
Though the board was facing a $2 million budget gap as recently as last month, the proposed budget avoids the significant cuts and layoffs of last year’s budget.
Officials said they are looking at alternative funding sources to fill out the budget, the Times reported over the weekend.
These potential sources include private revenue for technological initiatives and a possible solar energy partnership with the Borough and the Township.
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