Morristown Intro’s 2026 Budget, See Tax Hike

MORRISTOWN, NJ — Morristown officials have introduced the 2026-27 municipal budget, and residents can expect to pay more in taxes if it is adopted.

On Tuesday, the mayor and council presented a $60.6 million budget, around $1.2 million higher than last year’s.

The budget, which cites rising costs in healthcare, pensions, salaries, and contractual expenses, reflects a 3.25 percent tax levy. Officials said the levy is necessary to maintain current services and avoid deeper cuts to staffing, capital projects, and day-to-day operations.

The tax levy increase would have the average Morristown resident paying an additional $207 a year in their tax bill, or just over an additional $17 per month. The average residential assessment for 2026 is $635,841.

More than 56 percent of the town’s $60.6 million budget comes from residents’ taxes. See a breakdown below:

This comes as the Morris School District adopted a $155 million budget, further hiking up taxes for Morristown residents. Morristown residents will see an average increase of more than $300 in their school taxes, plus the $207 if the municipal budget is approved.

The introduced budget now moves through the Town Council review process, where council members can make amendments before a final adoption vote expected next month. Residents will have an opportunity to comment during upcoming public hearings.

Click here to view the full budget presentation.