Well, the Edison 2020 Final/2021 Preliminary Property Tax Bills are out. The total property tax rate is $5.849 (Per 100), which is up 22.1-cents or 3.93% over last years $5.628.
County taxes are $1.032 (per 100), which is up 9.2-cents or 9.79% over last years $.940.
School tax is $3.166 (Per 100), which is up 5.8-cents or 1.87% over last years $3.108.
Muni taxes are $1.431 (Per 100) including the Library tax, which is up 7.1-cents or 5.22% over last years $1.360.
Just so you are aware, the 3rd Qtr estimate they put out had a rate of $5.847. Lankey's Introduced Budget came with a rate of $5.876 or an increase over the 3rd Qtr estimate of 2.9-cents. However, the Council's Amended Budget came with a rate of $5.849 which reduced the 2.9-cents by 2.7-cents so the increase over the 3rd Qtr is only .002.
So, if you live in that imaginary home assessed at $180,400, then you 2020 Property tax increase is $398.68 and your 2020 Property taxes are $10,551.60.
If you don't live in that imaginary home, then take your home's assessed value divided by 100 and multiply that number by .221 and you'll get your 2020 Property tax increase.
Similarly, take your home's assessed value divided by 100 and multiply it by $5.849 and that will give you your 2020 Property taxes.
Anyhoo, welcome to the 2020 Pandemic tax increases here in 'Downtown' Edison.
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