PARSIPPANY — The Parsippany-Troy Hills Township Council passed Resolution R2018-089 on May 15, 2018 stating that since the County of Morris is unable to certify the 2018 Tax Rates and the Tax Collector would be unable to mail the 2018 tax bills on a timely basis, the Township would send out “Estimated Taxes”.
The estimated third quarter 2018 Tax bill is based on a 5% increase in the Total Tax Levy. This estimate was calculated in accordance with New Jersey State Statutes.
Taxes are NOT compared quarter to quarter but rather year to year.
The first and second quarters are each 25% of the prior year’s taxes by law.
When comparing the difference between the second and third quarters, it appears to be a 10% increase but in reality the total increase for the year is 5%.
*** Please note that there are six different Tax Rates (Fire Districts) and therefore the percentage increase may be more or less than 5%.
The Parsippany-Troy Hills Township Council will be meeting on Tuesday, July 24 to vote on the 2018 Township Budget. The meeting is held at 1001 Parsippany Boulevard and starts at 7:30 p.m.
