University's payment to local government, as proportion of municipal budget, is among highest of its peers - PATIENCE HAGGIN, the Princetonian

As a nonprofit institution, the University does not pay municipal property tax on its land used for educational purposes. Despite this, the University paid $8 million in property taxes in 2012, making it the single largest taxpayer in town. In addition, the University paid $2.48 million in voluntary contributions to the Borough and Township governments to partially offset the cost of the town’s provision of services to the University community. Similar voluntary payments in lieu of taxes are not uncommon among the University’s peer institutions. Though the University’s payment in lieu of taxes, or PILOT, is nominally smaller than those of five of its peer institutions, an examination of PILOT contributions made by other universities to their host communities' operating budget shows that Princeton’s payment is one of the the largest by percentage. http://www.dailyprincetonian.com/2013/01/06/32222/