Parsippany approves 2.22% tax increase to fund police and maintain services

Parsippany-Troy Hills residents will see a modest increase in property taxes as the Township Council approved a budget reflecting a 2.13% overall tax rate increase during their recent meeting on April 15, 2025. This translates to an additional $59.41 annually for the average homeowner, or about $4.95 per month.

The budget prioritizes public safety, allocating funds for the hiring of ten new police officers to replace recent retirements. Currently, the township is down five officers due to retirements, and the new hires are essential to maintaining adequate police presence and service levels. The budget also emphasizes fiscal responsibility, with less than 25 cents of every tax dollar going towards township services, which are noted to be more extensive than those in other municipalities in Morris County.

Mayor Michael Soriano highlighted the importance of maintaining a tight budget, especially as the township faces upcoming contract negotiations and potential reductions in state and federal aid. The council has worked diligently to keep the municipal tax increase below 2.3%, a significant achievement given the financial pressures facing local governments.

In addition to public safety, the budget includes provisions for various township services, ensuring that Parsippany-Troy Hills continues to provide high-quality services to its residents. The council plans to hold a public budget hearing on April 29, allowing residents to engage with the budget process and voice their concerns or suggestions.

Overall, the council's efforts reflect a commitment to balancing fiscal responsibility with the need for essential services, setting a positive tone for the township's financial future.