Proposed Edison Budget For 2024 Includes 2.5% Tax Increase

EDISON, NJ — Edison Mayor Sam Joshi made a budget presentation to the Council and community earlier this week.

The 25-minute budget presentation of $175.9 million includes a 2.5 percent tax increase for residents.

An average Edison home assessed at $183,400 will pay in municipal taxes an estimated $5,806 for schools, $2,708 for township services, $1,806 for county services, $166 for the library, and $18 for open space.

According to Joshi, the assessment of the average Edison home has gone up by 0.55 percent.

The $175.9 million budget includes $109.6 million in local taxes, non-property tax revenue appropriation include $12.7 million in surplus, $4.6 million in construction code fees, $3 million in payments in lieu of taxes, and $706,800 in American Rescue Plan funds.

The 2024 budget will see the township invest in public projects and increase services and staff, Joshi said.

For his presentation, Joshi broke down the budget into four segments. He explained that more than 75 percent of the budget was contractual obligations.

The staffing levels in Edison have increased from 668 to 703 in 2024, Joshi said.

“Despite record high inflation and despite the fact that township employees received 3 percent of an increase, we’ve achieved property tax stabilization, while significantly improving our community,” Joshi said.

The final budget is expected to be adopted in the next two to three weeks.

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