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2025 general tax rate · Morris County, NJ
Parsippany-Troy Hills Township property tax rate
Parsippany-Troy Hills Township's 2025 general tax rate is $3.452 per $100 of assessed value. A property assessed at $300,000 owes $10,356.00 for the year. That ranks 185th highest of New Jersey's 564 municipalities, above the middle, $0.490 per $100 above the $2.960 per $100 state median.
- 1General tax rate $3.452 per $100
- 2Bill on $300,000 assessed $10,356.00
Your Parsippany-Troy Hills Township tax bill
The bill before exemptions and credits. Compare every New Jersey rate.
General rate and effective rate in Parsippany-Troy Hills Township
New Jersey publishes two rates for every municipality. The general tax rate, $3.452 per $100 in Parsippany-Troy Hills Township, is the one applied to the assessed value on the bill: $300,000 assessed owes $10,356.00. The effective tax rate, $2.452 per $100, is "the general property tax adjusted by the municipality's equalization ratio", the rate on market value. Dividing one by the other puts Parsippany-Troy Hills Township's assessments at about 71.03% of market value; the state median is 70.02%.
The effective rate is the fairer comparison between towns. On it Parsippany-Troy Hills Township ranks 134th of 564, against 185th on the general rate, and sits $0.310 above the $2.140 median effective rate. At 71.03%, a $300,000 assessment corresponds to roughly $422,357 of market value.
Parsippany-Troy Hills Township's rate in 2024 and 2025
The general tax rate rose $0.080 per $100 (2.28%) from $3.375 per $100 in 2024, and the same $300,000 assessment owes $231.00 more than at last year's rate. In 2024 Parsippany-Troy Hills Township ranked 190th. The effective rate went from $2.551 to $2.452 per $100 (down 3.88%), and the implied ratio from 75.59% to 71.03%: market values rose faster than assessments.
Tax on common assessed values in Parsippany-Troy Hills Township
| Assessed value | 2025 bill | At the 2024 rate | Versus NJ median rate |
|---|---|---|---|
| $200,000 | $6,904.00 | $6,750.00 | +$984.00 |
| $300,000 | $10,356.00 | $10,125.00 | +$1,476.00 |
| $400,000 | $13,808.00 | $13,500.00 | +$1,968.00 |
| $500,000 | $17,260.00 | $16,875.00 | +$2,460.00 |
| $750,000 | $25,890.00 | $25,312.50 | +$3,690.00 |
Each bill is the assessed value divided by 100 and multiplied by $3.452, before exemptions, credits or special charges. These are assessed values, not sale prices: at 71.03% the $300,000 row is a property worth about $422,357. The last column is the difference from the same assessment at the $2.960 per $100 state median.
How Parsippany-Troy Hills Township compares in Morris County and New Jersey
Among the 39 municipalities in Morris County, Parsippany-Troy Hills Township ranks 4th highest; the county median is $2.538 per $100, so Parsippany-Troy Hills Township sits $0.910 per $100 above it. The next higher rate in the county is Boonton Town at $3.478, and the next lower is Netcong at $3.447. Statewide, 67% of municipalities have a lower general tax rate than Parsippany-Troy Hills Township.
Outside Morris County, the closest rates are Evesham Township ($3.451, Burlington), Eastampton Township ($3.459, Burlington), Deptford Township ($3.440, Gloucester), Montgomery Township ($3.438, Somerset). Because towns assess at different shares of market value, the effective rate is the better guide to what a house of a given price pays.
Appealing a Parsippany-Troy Hills Township assessment
New Jersey appeals go to the Morris County Board of Taxation. The petition is due April 1, or May 1 in a year when Parsippany-Troy Hills Township implemented a municipal-wide revaluation or reassessment (NJ Division of Taxation). Property assessed above $1,000,000 may go directly to the Tax Court, and a County Board judgment can be appealed to the Tax Court within 45 days. The Board tests the assessment against the common level range: the average ratio plus or minus 15%. Using the 71.03% ratio implied by the state's two rates, that range runs from about 60.38% to 81.68% of market value; the Director's official average ratio for Parsippany-Troy Hills Township, which the County Board applies, can differ slightly.
The New Jersey appeal page sets out each step with its source and the ratio arithmetic. This is a summary of the published procedure, not legal advice.
Parsippany-Troy Hills Township property tax questions
What is the property tax rate in Parsippany-Troy Hills Township, NJ?
Parsippany-Troy Hills Township's 2025 general tax rate is $3.452 per $100 of assessed value; its effective rate, on market value, is $2.452 per $100. Source: New Jersey Division of Taxation.
How much is the property tax on a $300,000 assessment in Parsippany-Troy Hills Township?
$300,000 ÷ 100 × $3.452 = $10,356.00 a year, before exemptions and credits. At the 2024 rate the same assessment owed $10,125.00.
Is Parsippany-Troy Hills Township's tax rate high for New Jersey?
It ranks 185th highest of 564, above the middle of New Jersey municipalities; the median is $2.960 per $100. On the effective rate, which allows for different assessment levels, it ranks 134th.
How do I appeal a Parsippany-Troy Hills Township property assessment?
Petition to the County Board of Taxation: by April 1 (May 1 after a municipal-wide revaluation) (NJ Division of Taxation; Guide to Tax Appeal Hearings). Then: county board hearing and judgment (Set by the County Board); appeal to the tax court (Within 45 days of the County Board's judgment).
Source: New Jersey Division of Taxation, 2025 General Tax Rates (general and effective tax rates by county and municipality); prior year from the 2024 General Tax Rates. Appeal steps: NJ Division of Taxation, Assessment and Appeals (updated August 15, 2025); NJ Division of Taxation, A Guide to Tax Appeal Hearings (revised 2022). Last checked October 21, 2026. This page explains published figures; it is not tax or legal advice.