U. contribution set to increase by over 10 percent to $2.75 million in 2014
Daily Princetonian Staff and Anna WindemuthThe University will contribute $2.75 million to the town of Princeton’s municipal budget in 2014, an increase of over 10 percent from last year’s contribution of $2.475 million. The new agreement, which was announced on Thursday afternoon, is scheduled to last seven years, with an annual increase in contribution of 4 percent. Under New Jersey law the town can only increase its property taxes by a maximum of 2 percent per year, University Vice President and Secretary Robert Durkee ’69 explained, ensuring that the relative value of the University’s contribution will grow consistently. The contribution over the seven-year timespan will total $21.72 million by 2020, the University said in a press release.








