Princeton, NJ · Updated Oct 2026

What a Princeton home costs each year

Property tax, water, trash and energy from public rates. Look up your address to make it yours, and see how to pay less.

Suggestions as you type come from Google; the lookup uses free public map services to find who serves it. Not stored unless you save your house.

Example · a Princeton house

$31,487a year · $2,624 a month

Starts at $866,204 of value before exemptions. Typical use.

Property tax$24,817
2.865% of $866,204
Electricity and gas$2,993
558 kWh a month $1,841 · 86.6667 therms $1,152
Water and sewer$2,260
7,000 gallons a month on New Jersey American Water: water $101, sewer $87 a month
TrashIncluded
One 64-gallon cart per eligible household (one to four dwelling units); smaller 32-gallon carts are free to swap
Home insurance$1,417
Typical premium $1,417

A typical Princeton house costs about $31,500 a year: $24,820 property tax and charges, $2,260 water and sewer, $2,990 electricity and gas, $1,420 home insurance; trash is paid through property tax. Estimated from public rates, not anyone's actual bill.

Rates checked Oct 28, 2026. Insurance: what you enter, or a typical premium until you do. Sources are listed at the bottom.

Ways to pay less

Nothing here applies to every house automatically. These are worth checking:

Homeowners with income up to $250,000: ANCHOR property tax reliefUp to $1,500 a year
New Jersey pays eligible homeowners $1,500 if 2025 income was $150,000 or less, or $1,000 if it was $150,001 to $250,000. The state filed for most eligible homeowners under 65; seniors and disability recipients can apply with Form PAS-1.
How: Apply on the NJ Division of Taxation ANCHOR page; the deadline for the 2025 application is November 2, 2026.
Seniors 65+: Stay NJUp to $6,500 a year
Seniors who owned and lived in their home all of 2025 can get up to $6,500 a year with income up to $100,000, $5,000 up to $150,000, or $4,000 up to $200,000.
How: File Form PAS-1 by November 2, 2026.
Seniors 65+ or disabled, income under the limit: $250 property tax deductionUp to $250 a year
The state offers an annual $250 property tax deduction to people age 65 or older, or disabled, who have lived in New Jersey at least one year and meet income guidelines.
How: See the NJ Division of Taxation senior deduction page for how to apply.
Veterans: $250 property tax deductionUp to $250 a year
Honorably discharged veterans with active duty service may qualify for an annual $250 property tax deduction.
How: See the NJ Division of Taxation veterans deduction page for how to apply.
100% disabled veterans: property tax exemptionAnnual exemption on your main home
Honorably discharged veterans who were 100% permanently and totally disabled during active duty service may qualify for an annual property tax exemption on their main home.
How: File Form D.V.S.S.E. and documentary proofs with your local assessor.

Money dates

Feb 1, May 1, Aug 1, Nov 1in 89 daysProperty tax and sewer bills are due quarterly, with a 10-day grace period.
Apr 1Last day for a property tax appeal petition to reach the County Board of Taxation or the State Tax Court; May 1 where a municipal revaluation or reassessment has been undertaken.
After the grace period8% interest is charged on balances under $1,500 and 18% on balances over $1,500, accruing from the due date.

Who serves this house

Water: New Jersey American Water; Billed under Rate Schedule A-1 (general metered service), monthly; tariff effective September 15, 2026
Property tax: 2.86% of value; 2026 tax year, Municipality of Princeton (Mercer County)
Garbage: Municipality of Princeton; Residential waste is collected weekly by the Municipality's contractor Interstate Waste Services.

Pay or manage your bills

Other NJ cities

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How these numbers are made

Property tax: Mercer County Board of Taxation 2026 Breakdown of General Tax Rate, Princeton general tax rate 2.865 per $100 of assessed value (county, school, municipal, library and open space combined), applied to the 2026 average assessed value of $866,204 from the Municipality's budget newsletter.
Water: New Jersey American Water Rate Schedule A-1 (Service Area 2), effective September 15, 2026: $24.00 a month for a 5/8-inch meter plus $10.3166 per 1,000 gallons water charge plus the PWAC, lead service line and special program charges ($11.4693 per 1,000 gallons). Water-quality facts were not available from a downloadable source.
Sewer: the Municipality charges $9.68 per CCF of metered water for the first 2,000 CCF in a year; the page uses $9.68 / 0.748 = $12.94 per 1,000 gallons of water and no fixed charge. The charge is billed once a year with property taxes and is based on the lesser of annual use or four times winter-quarter use, so it is shown spread over monthly water use. Only the first tier is modelled: per the Municipality's sewer-rate notice, use above 2,000 CCF a year is billed at higher tiers ($13.09 per CCF for 2,001-5,000 and $18.24 above), which a typical home does not reach.
Garbage: no fee for the first cart. Electricity and gas: PSE&G Rate Schedule RS / RSG with default supply, same tariff components as other PSE&G cities (summer/winter weighted, sales tax included). Insurance: NJ 2022 statewide average premium (NAIC via III).
Nothing here is legal, tax or insurance advice.

Sources

How Princeton compares

A typical Princeton house against the 41 New Jersey cities we cover, using the same default numbers as the total above.

Per year	Princeton	Median	Where it falls
Property tax rate	2.86%	2.66%	higher than 22 of the other 38 New Jersey cities we cover
Water	$1,215	$771	higher than 34 of the other 40 New Jersey cities we cover
Sewer and utility-bill fees	$1,045	$600	higher than 20 of the other 22 New Jersey cities we cover
Electricity and gas	$2,993	$3,056	lower than 21 of the other 40 New Jersey cities we cover
Home insurance	$1,417	$1,417	in the middle of 40 other New Jersey cities we cover
Total	$31,487	$16,741	higher than 40 of the other 40 New Jersey cities we cover

Cities bill differently (some put trash on the tax bill, some cover more services), so a higher number isn't necessarily worse. The property tax rate is compared instead of dollars because house values differ.

Questions to ask your candidates

Each one starts from a number above. Any candidate can answer them.

1. Water

The fact: Water here costs about $1,215 a year at typical use, higher than 34 of the other 40 New Jersey cities we cover.

Ask: "Water here costs about $1,215 a year at typical use, higher than 34 of the other 40 New Jersey cities we cover. What drives that cost, and would you change anything?"

2. Sewer and utility-bill fees

The fact: Sewer and flat utility-bill charges here come to about $1,045 a year, higher than 20 of the other 22 New Jersey cities we cover. Some cities bill sewer on the property tax bill instead, which is not counted here.

Ask: "Sewer and flat utility-bill charges here cost about $1,045 a year, higher than 20 of the other 22 New Jersey cities we cover. What drives that cost, and would you change anything?"

3. Electricity and gas

The fact: Electricity and gas for a typical house here cost about $2,993 a year, lower than 21 of the other 40 New Jersey cities we cover. Rates are set mostly by the utility and the state.

Ask: "Electricity and gas here cost about $2,993 a year for a typical house, lower than 21 of the other 40 New Jersey cities we cover. Which parts of that can the city influence, and what would you do about them?"

See who is running in your city →

Common questions about Princeton house costs

What is the property tax rate in Princeton?

About 2.86% of the value before exemptions a year (2026 tax year, Municipality of Princeton (Mercer County)), plus flat charges on the same bill.

How much is property tax on a $500,000 house in Princeton?

About $14,325 a year on $500,000 of the value before exemptions.

How much is the water bill in Princeton?

About $188 a month for water and sewer at typical use (7,000 gallons a month) on New Jersey American Water.

How much does trash pickup cost in Princeton?

One 64-gallon cart per eligible household (one to four dwelling units); smaller 32-gallon carts are free to swap

When is property tax due in Princeton?

Feb 1, May 1, Aug 1, Nov 1: Property tax and sewer bills are due quarterly, with a 10-day grace period.

Can seniors lower their property tax or bills in Princeton?

Yes. Homeowners with income up to $250,000: ANCHOR property tax relief (up to $1,500 a year): New Jersey pays eligible homeowners $1,500 if 2025 income was $150,000 or less, or $1,000 if it was $150,001 to $250,000. The state filed for most eligible homeowners under 65; seniors and disability recipients can apply with Form PAS-1.

How much does a house in Princeton cost to run each year?

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