Princeton University is exempt from paying property taxes to the Princeton Community. Besides an endowment of over $15.8 billion, it also owns more than 40\% of the real property in Princeton Borough, and more than 14\% of the real property in Princeton Township. If Princeton University paid property taxes, as do other taxpayers, property taxes would have been reduced by 24\% to Borough taxpayers and by 15\% to Township taxpayers in 2006. Making up this lost revenue unfairly burdens Princeton residents and businesses. We support our elected representatives efforts to negotiate a fairer payment from Princeton University.