Edison's 2018 Est 3rd Qtr Tax Bills are out - and your taxes are Up again, of course!?!

Well, here's  a Shocker - yet another tax increase for 2018.

Since Mayor Tom 'Now 15.4% but Won't Debate' ChoiLankey still hasn't produced a Muni budget for 2018 (half the budget year is almost over and if they wait any longer we won't need a budget - we'll have the actual numbers) and the County, which adopted their budget back in March but still hasn't released their County tax and Open Space tax numbers for Edison according to a response to an OPRA Request I made to the Muni Clerk's office, we end up with these estimated tax bills.

Kind of hard to understand why they can't release the County tax numbers for Edison now.

Got to love these estimated tax bills though - all they give you is a number to pay. No explanation of what it represents or how they came up with it.

Be that as it may, it's not hard to figure out what the total property tax rate ( Muni, Library, Garbage, County, County Open Space & School) they used for this estimate.

Just take your tax bill installments for the first and second quarter, February & May, and add to it the number on the estimated tax bill you just received for the 3rd and 4th quarter. Add those 4 quarters up and divide that number by your home's assessed value divided by 100.

If you do that, you'll find that the total property tax rate they used for this estimate here in the 'DemBadLands' of Downtown Edison is 5.491 per 100. And when you compare that number to last year's rate of 5.376 - you'll find the total property tax increase is 11.5-Cents or 2.14%

So, if you live in that imaginary home assessed at 178,300, then your taxes are going up by $205. Since I don't know what the County or Muni budget numbers are at this time, all I can say is we know of that 11.5-Cent increase, the School tax is 6.6-Cents so the Muni and County taxes combined have to be 4.9-Cents.

Therefore, of that $205 increase for the average home assessed at 178,300, roughly $118 is for the school and $87 is for all the Muni & County taxes.

If you don't live in that imaginary home assessed at 178,300, they just take your home's assessed value divided by 100 and multiply that number by 6.6-Cents for your school tax increase and 4.9-Cents to get you Muni & County increase.

Anyhoo, can't wait to see what's in this year's Muni budgets, whenever it comes out.