Following up: Princeton University is already paying taxes

I posted yesterday on James Piereson and Naomi Schaefer Riley’s Wall Street Journal op-ed, Why Shouldn’t Princeton Pay Taxes?

Their article stated that Princeton University is “now contributing voluntarily to town coffers” $10 million, and I stated that I didn’t know how they arrived at that figure since all I could find offhand was the one item in the municipal budget.

This morning I talked to PU’s Community affairs office, who kindly directed me to the University’s Local Contributions page. I urge you to read their Financial Contributions section. In it you will fund that the University's contributions exceed both the cash contribution listed in the municipal budget, but also the $10 million mentioned by Pierson and Riley. I also recommend that you read the full Local Contributions page and review the information on regional economic impact.

I have lived in other parts of New Jersey and can attest to the fact that Princeton University is what distinguishes our town over all other towns in New Jersey. Their contribution is most unique, and the fact is, they already are paying taxes – more than what Piereson and Riley mention in their article.

Which brings me to the real issue:
As I said yesterday in my post, fiscal responsibility doesn’t grow from more revenues; you must recognize that the taxpayer is not an open checkbook. Having non-profits – be it Princeton University or any other – pay into the municipal coffers more than they already do does not mean that the residents will see relief in their tax bill. All it means is that the politicians will see it as having more money to spend.

Bottom line: The onus of a fiscally responsible budget falls on the municipality.

(cross-posted at Fausta for Council.)