Piscataway Lowers Municipal Tax Rate Seventh Year in a Row!

Tax rate graphic

2024 Township Budget Lowers Municipal Tax Rate
by Another 7.39 Percent to Offset Major Gains in Property Value

April 17, 2024 – For the seventh year in a row, Mayor Brian C. Wahler and the Piscataway Township Council passed an annual budget that lowers the municipal tax rate, providing top quality municipal services to residents and offsetting much of the significant increase in the value of residential homes.

“The wisest investment strategy over the past several years has been owning a home in Piscataway,” Mayor Wahler said.  “With a financially responsible budget that prioritizes residents first, even more dividends are provided to local families with great roads, parks and programs.”

In 2018, the municipal tax rate was lowered by 12.8 percent from the 2017 rate.  In 2019, 2020, 2021 and 2022, it was lowered slightly each year.  It was lowered by 8.11 percent last year and now it has been lowered another 7.39 percent for 2024.

“Piscataway finances are strong and sound,” Council President Gabrielle Cahill (At-Large) said.  “With businesses providing a big portion of the municipal tax base, we are moving Piscataway forward with a responsible budget that keeps our community and its future vibrant.

Piscataway also maintains stellar bond ratings, specifically, AA+ stable from Standard & Poor’s and its equivalent, Aa1(stable) from Moody’s which are both their second highest ratings possible.  According to Moody’s, “The stable outlook reflects the township’s strong and stable reserve position and growing local economy.”

A municipal government acts as a tax collector for all of the local governing authorities.  Piscataway Township also collects property taxes for Middlesex County, Piscataway Schools, Fire Districts, Piscataway Public Library and Middlesex County’s Open Space for which their elected and appointed boards each determine their own tax rates and budgets.  Piscataway generally only keeps just over one-quarter of all collected property taxes for municipal use.