Following a public hearing on the city’s property tax rate for Fiscal Year 2026-27, the Princeton City Council gave final approval to the annual municipal budget and the tax rate.

The votes came at the regular Sept. 28 council meeting, just three days before the start of the next fiscal year. 

Mayor pro tem Bryan Washington chaired the meeting as Mayor Eugene Escobar Jr. was absent, as were Councilmembers Jaisen Rutledge and Carolyn David-Graves.

During the public hearing on the budget, Elam Vaiyapuri said he would like for the city to support itself only by sales tax. 

“The number that I have in my mind for property tax is zero,” he said. “I know that this is not the popular time to ask for this, but has anyone considered homestead exemption from property tax? We are currently offering disabled persons and also we are offering for 65 and over.”

Sharad Ramani said the budget failed residents by not funding two library positions and a dedicated IT network administrator. 

“These are two easy, low-cost wins to directly support public services and secure municipal operations — and this council missed them entirely,” Ramani said. “This is not putting residents first.”

Ken Selingman said there should be more public involvement in the budget planning process. 

“Every additional person that gets involved, that takes one little thing and looks at it, gives you suggestions [and] shows up here — it’s help.”

The budget will raise 16.99% more revenue from property taxes than last year’s budget, an amount of nearly $3.3 million.

It calls for $114,996,430 in total revenues, including transfers, with total expenditures, including transfers, of $111,144,373. 

In his motion to approve the budget, Councilmember Terrance Johnson added a restriction on internal transfers by the city manager.

“The city manager can still make normal budget transfers necessary to operate the city,” Johnson said. “But anything over $50,000 between departments or transfers that go over $100,000 in total would have to come back for council for approval.

The FY2026-27 budget is balanced reflects a property tax rate of $0.472959 per $100 of taxable property valuation. 

It consists of an M&O (maintenance and operations) rate of $0.267959 and a debt service (interest & sinking or I&S) rate of $0.205000.

CFO Kelly Wilson estimated the tax rate would add about $26.53 per year to the annual tax bill for a homestead with a median value of $307,881. 

In other business, council approved a final plat for the Princeton Town Center by a 4-1 vote. 

The Home Depot and Kroger Marketplace will be two of the tenants in the retail complex north of U.S. Highway 380 and west of Beauchamp Boulevard.

Director of Development Services Shai Roos assured council that all city requirements had been met, but Councilmember Cristina Todd was not fully convinced and cast the lone negative vote.

Also on the agenda, council approved a $35 per household annual fee for non-residents wishing to access materials in the Lois Nelson Public Library. 

Exemptions would include city and Princeton Independent School District employees, library volunteers, students participating in approved educational partnerships, residents subject to reciprocal agreements and persons qualifying for hardship waivers.

Following a request by Community Waste Disposal for a fee adjustment under its contract with the city, councilmembers approved a monthly residential rate increase of 2.3%, with bills going up 47 cents to $20.92.

The next meeting of the Princeton City Council is scheduled for Tuesday, Oct. 13.

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