Princeton City Council Sets Property Tax Rate, Calls November Election

Princeton homeowners will get a formal say next week on where their property tax bill lands for the coming year. The City Council on Monday approved a proposed tax rate tied to the FY 2026-2027 budget and scheduled a public hearing for August 17 at 6:30 p.m. at the Princeton Municipal Center, where residents can weigh in before a final vote. The council set the city's calculated no-new-revenue rate at $0.445102 per $100 of taxable value and the voter-approval rate at $0.441143 -- the ceiling the city could adopt without triggering a possible election under state law. Council members also approved the city's 2026 certified appraisal roll, the figure the tax rate calculations are built on. Separately, the council called the November 3 general election for two city council seats, Places 6 and 7, and approved the standard procedures for early voting, mail ballots, and Election Day polling. Council also cleared a batch of infrastructure and development items tied to the city's rapid growth: a wastewater service agreement for the Suncrest development, acceptance of newly built infrastructure in the Eastridge Phase 8 subdivision, and an interlocal agreement with Collin County covering road and bridge maintenance. A related item, a wastewater agreement for the Lowry Crossing development, was tabled until the council's August 17 meeting. The council also accepted a draft of the city's long-range Comprehensive Plan, which will guide growth, transportation, and infrastructure decisions in Princeton for years to come.