Friday, July 10, 2015

Edison's 3rd Qtr. 2015 Estimated PropertyTax Bill - uses $5.081 Per $100 Annual Tax Rate

Edison's estimated 3rd qtr. tax bills (August 1) will be out shortly. There isn't much info on these bills - usually just an amount due, due date and a grace period. Thought it might be helpful to understand how they come up with the number that shows up on Your Estimated 3rd Qtr. Tax Bill. Simply stated, they add the calendar year budgeted tax rates for all taxing entities (Muni, County & School) and get a total rate. They then compare it to last year's rate and the difference goes equally into the 3rd & 4th Qtr.

Their 3rd Qtr. 2015 estimate is calculated using an annual tax rate of $5.081 (Per $100), which is 15.5 cents or 3.15% up over last year's $4.926 (Per $100). You can see where the changes are by taxing entity in the rates below. Recognize that the $1.242 Muni tax rate below includes $1.174 and $.068 for the Muni tax and Library tax, respectively.

Also, recognize that their 3rd Qtr. estimate assumes the Edison Council leaves the Mayor's $126.5 million Introduced Budget intact with a 3.7 cent or 3.1% increase, when adopted. If they change it, you'll see an adjustment to your 4th Qtr. taxes due on November 1, 2015.

Anyhoo, enter Your Home's Assessed Value in the box below and see what Your Estimated 2015 Annual Property Taxes will be, Your Estimated 3rd & 4th Qtr. tax and what Your increase will be in the 3rd and 4th Qtrs - hope it helps:
Source for 2015 Rates: Clerk's Office - Best Estimates to Prepare Estimated Tax Bill - Not Certified by County As Yet.

No comments:

Post a Comment