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Modern trams generally operate in a semi-independent Right Of Way that intersects with social vehicles at junctions. Typically, there are two signal priority strategies at junctions: active signal priority strategy and no-signal priority strategy. The active signal priority strategy is applied to improve the efficiency of the tram. However, it inevitably causes delays to social vehicles. The no-signal priority strategy could reduce the influence on social vehicles, but it will increase the tram travel time. Therefore, we develop a Mixed-Integer Linear Programming model to optimize the tram timetable and consider various signal priority strategies. In the model, the signal priority strategies of the tram are a set of decision variables that consider the traffic flow of social vehicles rather than fixed input parameters. The model considers minimizing the overall travel time of the tram and the negative utility of signal priority strategies. A numerical experiment is conducted to demonstrate the validity of the proposed model. The experimental results show that the proposed method can optimize the tram timetable and maximize the overall benefits of the junction. Moreover, we compare the experimental results of the proposed method with the approach of fixing the signal priority strategy for the tram at junctions. On the one hand, our proposed method can improve the operational efficiency of trams, i.e., the travel time decreases by 16.60%. On the other hand, the negative utility of signal priority for the comprehensive scheme proposed in this work reduces by 39.45%.