Parsippany BOE Adopts Budget, See Tax Increases
By Jack Slocum
Published on May 4, 2026.
The budget for the New Jersey school district has been adopted by the Board of Education (BOe) due to a seven percent tax hike, largely due to rising healthcare costs. The district faced a 45 percent increase in health care costs, amounting to over $13 million. To mitigate this, the district switched to a self-funded health benefits model to manage costs more directly and reduce long-term financial pressure. The budget also includes the transition of five educators to the elementary level and managing retirements, reassessment of retirements and non-renewals.
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