Tax Hike Proposed In Parsippany Schools' Budget: See Details

PARSIPPANY, NJ — The Parsippany-Troy Hills Township School District has introduced its tentative budget for the 2026-27 school year, and taxes are expected to go up.

The budget accounts for an over seven percent increase in residents’ taxes.

The reason for the increase, similar to school districts across the country, is due to higher costs for health insurance.

According to Parsippany’s budget, the district expects a 32.4 percent, or $8.1 million, increase in health insurance costs compared to last year.

This, in addition to changes in state funding and other rising costs, has led to the increase in taxes.

The average Parsippany resident’s home, with an assessed value of $315,326, can expect to pay an increase of $38 a month, or $456 per year, in taxes, under the new budget.

Administrators say that without the bump, students could face the following cuts:

• Reduced athletics, clubs, and extracurricular activities
  opportunities
  ● Cuts to visual and performing arts
  ● Fewer course offerings, including electives
  ● Increased class sizes
  ● Reduced student support and intervention services

A budget community forum is slated for Thursday at 6:30 p.m. at the Calabria Education Center at 6:30, followed by a final adoption meeting on April 28, at the same time and place.

Click here to learn more about the district's budget and process.

The school budget tax hike comes as the municipal budget plans to introduce a near ten percent tax hike.