In 2020, the municipal tax rate is projected to be $2.22 per $100 of assessed valuation. From 2019 to 2020, the total budget is up $5.87 million and the total amount to be collected from taxpayers is up $7.57 million. The budget that was adopted in 2019 totaled $144.35 million and included a $92.13 million tax levy. Lankey said the real stress will be in August to see if people are able to pay their next quarterly taxes. Lankey laid out the $150.22 million municipal budget, which was introduced at a meeting before the Edison Township Council and public on June 29 at the Performing Arts Center at Middlesex County College.Įdison officials will collect $99.70 million in taxes from Edison’s residential and commercial property tax owners in 2020 to help fund the municipal budget. The non-property tax revenues have dropped 3.1% or $1.42 million from $45.6 million in 2019 to $44.2 million in 2020. In 2019, the township appropriated $2.12 million in Latchkey funds, $8.22 million in anticipated surplus and $1.06 million in hotel taxes. The 2020 calendar year Edison municipal budget reflects revenue decreases of $1.12 million (52.92%) in Latchkey before-and-after care funds for school children, a decrease of $932,936 for anticipated surplus (11.35%), and a decrease of $152,465 (14.41%) for municipal hotel taxes.
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