How Princeton is run
Who runs Princeton, what it costs, and where your money goes
The city manager, council pay, the budget, your property tax bill and who provides each service, from Princeton's own public documents. Every number links to its source and says which year it describes. Checked Oct 10, 2026.
Who runs Princeton
A city manager hired by the council runs the city day to day. The council sets policy, adopts the budget and sets the tax rate.
What they are paid
- Reimbursement of necessary and reasonable expenses, if the council approves them
- City Council department budget: $60,900 proposed for FY2026-27, with no personnel costs
Princeton city staff
229 full-time-equivalent positions. FY2026-27. Budgeted positions, including 2 for the economic and community development corporations. City of Princeton
We found no posted employee pay list. Texas has no statewide city pay database. We name pay only for elected officials and the city manager.
Is Princeton in the red?
Cities must pass a balanced budget, so "profit" and "deficit" mean something different here. The useful questions: does the city's everyday money (the general fund) cover its everyday costs, how much does it keep in savings compared with its own target, and how big are its pension and debt bills.
The city's own outlook
The city says growth does not immediately pay for the cost of serving growth. After the council directed staff to use the voter-approval tax rate, staff revised the general fund to align spending with available revenues. The budget does not fund new programs or expanded services. City of Princeton
Savings against the city's own target
Unassigned general fund balance: $10.7M (2025-09-30). The city's own target: Keep general fund unassigned fund balance at 90 days, or 25%, of operating expenditures. City of Princeton · Mar 17, 2026
Why we skip the "budgeted deficit": many cities plan to dip into savings, then spend less than planned. The audited result tells you what really happened.
Where the money comes from and goes
The general fund only: the city's everyday money for FY2026-27.
Comes from
- Property taxes$12.9M · 35%
- Licenses, permits and fees$8.7M · 23%
- Sales taxes$4.5M · 12%
- Transfers in from other funds$4.5M · 12%
- Intergovernmental$2M · 6%
- Charges for services$1.4M · 4%
- Franchise taxes$1.2M · 3%
- Other (interest, fines and misc.)$1.8M · 5%
Goes to (FY2026-27)
- Public safety$20M · 54%
- General government$7.2M · 19%
- Culture and recreation$4.2M · 11%
- Development services$3.7M · 10%
- Public works$2M · 6%
Your property tax bill: who gets it
Of the city, county and school district rate a Princeton homeowner pays, about 35 cents per dollar goes to the city. Collin College also levies a tax, not shown here. For FY2026-27 the city rate rose to 47.2959 cents.
25¢
of each property-tax dollar goes to the city of Princeton
- Princeton ISD (schools)Operations 0.7072 plus debt 0.5.1.2072 · 67%
- City of Princeton (operations)0.254309 · 14%
- City of Princeton (debt)0.185917 · 10%
- Collin County0.149343 · 8%
- Total ($ per $100 of taxable value)1.796769
2025 tax year (FY2025-26) rates for a home in the city of Princeton (Collin County, Princeton ISD): city, county and school district. Texas Comptroller · Jan 28, 2026
Who provides your services
Not everything in Princeton is run by the city. Who provides a service decides whose budget pays for it and whose election decides it.
- PoliceThe cityPrinceton Police DepartmentCity of Princeton · Mar 17, 2026
- Fire and emergency medical servicesThe cityPrinceton Fire DepartmentCity of Princeton · Mar 17, 2026
- AmbulanceContractorContracted ambulance service, paid from the fire budgetCity of Princeton
- Police dispatchThe countyCollin CountyCity of Princeton
- Trash collectionContractorCommunity Waste Disposal (city contract)City of Princeton · Mar 17, 2026
- LibraryThe cityLois Nelson Public Library (city)City of Princeton
- Parks and recreationThe cityCity of Princeton Parks and RecreationCity of Princeton · Mar 17, 2026
- City streetsThe cityCity of PrincetonCity of Princeton · Mar 17, 2026
Compared with similar cities
The cities in this state closest in population that we cover. Read it for scale, not as a ranking: cities provide different services.
| Per city | SeguinTX | PrincetonTX | SchertzTX | The ColonyTX |
|---|---|---|---|---|
| Residents | 41,048 | 43,524 | 45,978 | 46,196 |
| Top administrator's base pay | $298,081 | Not confirmed | $281,520 | Not confirmed |
| Council member pay | Not current (2022) | No salary | $6,000 | $3,000 |
| General fund per resident | $1,474 | $853 | $1,801 | $1,632 |
| Debt per resident | $16,383 | $4,346 | $3,429 | $3,784 |
| Unfunded pension per resident | $853 | $34 | $468 | $293 |
| City staff per 1,000 residents | 11.9 | 5.3 | 9.4 | 9.6 |
Figures as shown in each city's section, divided by its population. Years differ by state, and pension figures are measured differently in each state (each city page says how). Princeton pays another agency for police or fire, so its own staff count is lower.
What Princeton publishes
What a resident can find online today. A "no" is something you can ask the council to publish.
- Yes: Audited financial report filed on timeThe FY2025 annual report, dated March 17, 2026, is posted in the city's ACFR archive. City of Princeton · Mar 17, 2026
- No: City manager's contract findable onlineThe city has an alternate city manager while it recruits. We found no posted contract or pay document. City of Princeton
- Yes: Council votes recorded member by member onlineMinutes list roll-call votes by name, such as the 5-0 vote adopting the FY2026-27 tax rate. City of Princeton
- Yes: Meeting videos and minutes onlineMeetings stream live with a video archive; agendas and approved minutes are posted. City of Princeton
- Yes: Council pay stated in a public documentThe home rule charter says the mayor and council members serve without pay, with approved expenses reimbursed. City of Princeton
- No: Employee pay publishedThe financial documents page posts reports, budgets and investment reports but no employee pay list. City of Princeton
Questions to ask your council
- In FY2025 general fund spending was $34.3 million against $29.7 million of revenue, with transfers and financing covering the gap. How will the FY2026-27 budget of $37.1 million avoid a repeat?
- Bonds, notes and contract obligations reached $189.2 million on September 30, 2025, after the city issued $54.1 million of general obligation bonds and $24.3 million of certificates of obligation in FY2025. How will the rising debt payments affect the city tax rate in later years?
- Unassigned general fund reserves were $10.7 million on September 30, 2025, or 31% of spending, against a 25% target. How close will the FY2026-27 budget keep the city to that target?
- The council named an alternate city manager on September 21, 2026, while it recruits a permanent one. When will a permanent manager be hired, and will the contract be posted?
The fiscal year starts Oct. 1. The charter has the city manager submit a budget at least 30 days before the year ends. For FY2026-27 the proposed budget was filed July 29, 2026, revised Aug. 24, the public hearing was Sept. 21, and the council adopted the budget and the 47.2959-cent tax rate on Sept. 28, 2026. See who is running for council
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