Tax Increase Looms For Edison Residents In Proposed 2024 Budget

EDISON, NJ – Township Council recently introduced a budget that includes a tax increase for residents.

The $175.9 million budget, introduced on May 8, included an increase in local taxes by 2.52 percent.

Municipal tax will increase from 1.4407 to 1.4770. The local purpose tax levy will increase from $106,329,679.85 to $109,648,165.42, an increase of 3.12 percent.

For a home assessed at $300,000, the estimated total tax is $17,875, an increase of $111.62 from the previous year.

For 2024, the salaries for township employees is budgeted at $77,306,074.27, which is $4,224,755.12 more than last year, or a 5.78 percent increase.

The debt service is $8,068,881.88 for 2024, whereas in 2023 it was $7,750,670.00, which amounts to an increase of 4.11 percent.

The budget includes state aid of $16,252,954, 13 percent less than in 2023, when the township received $18,683,099.

A public hearing on the budget is scheduled for June 26. Click here to read the tax documents.

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