PARSIPPANY — The Parsippany-Troy Hills Township Council has approved two resolutions authorizing the cancellation of property taxes and the issuance of refunds to the developers of the District at 1515, a major commercial redevelopment project located along Route 10.
The resolutions—R2026-013 and R2026-014—relate to Block 200, Lots 1.04 and 1.05, which correspond to 1501 Route 10 and 1515 Route 10, respectively. Both parcels are part of a redevelopment agreement between the Township and District at 1515 Urban Renewal, LLC and District at 1515 Urban Renewal II, LLC.
According to the Payment in Lieu of Taxes (PILOT) financial agreements in place, the developers are required to pay standard land taxes only up until the issuance of a Certificate of Occupancy. After that point, PILOT payments take effect, and land taxes are no longer owed.
- For Block 200, Lot 1.04, a Temporary Certificate of Occupancy was issued on April 3, 2025. The Township determined that $145,504.35 in land taxes paid after that date should be refunded, as outlined in Resolution R2026-013.
- For Block 200, Lot 1.05, a similar certificate was issued on November 5, 2025. After accounting for 35 days of overpayment—less a portion attributable to the retail portion of the site—the Township approved a refund of $36,728, as detailed in Resolution R2026-014.
In both cases, the Council formally canceled the property tax obligations for the specified periods and waived any interest, directing the Township to refund the overpaid amounts to the developers.
The District at 1515, situated on the site of the former Intel, is one of Parsippany’s most significant redevelopment projects in recent years, combining residential, retail, and office uses under a multi-phase plan.
