Business & Finance

Public Hearing on Proposed 9% Tax Hike Scheduled

Edison Town Council has introduced a 9% tax increase for 2014 Credits: Marc Krauss

EDISON, NJ – Edison residents are facing a 9% tax hike for 2014 after enjoying virtually no tax increases over the last three years.

Tax payers were faced with a potential tax increase of 4% in 2012 when the town council introduced budget but managed to avoid a modest tax hike and kept the 2012 budget at the 2011 level in the final adopted budget.

By the end of 2009 Edison enjoyed a $14.2 million surplus which has dropped to $8.2 million by the end of 2013 for a $6 million difference.

A scheduled public hearing for Jun 25 at 7:00 p.m. on the municipal budget will be held at the Edison Municipal complex.

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