Letter to the Editor Mayor Confirms No PILOT Funds for 1515 Route 10, Despite Student Impact

Parsippany, NJLocal News

Mayor Barberio's recent announcement at the Town Council meeting confirmed that the Memo of Understanding (MOU) related to PILOT projects excludes funding for the 1515 Route 10 property, which is expected to add over 200 students to local schools. The Mayor pointed out that the school district's tax revenue increase is limited to 2% per year, ignoring the substantial financial impact of new students. The average cost to educate each student ranges from $20,000 to $25,000, leading to an annual unfunded cost of $4 to $5 million for the district. Parents voiced their concerns about the implications of larger class sizes during the Board of Education meeting, highlighting the urgency of the issue. The proposed Town Budget does not allocate additional funds for PILOT revenue sharing, suggesting that the town does not foresee extra financial support for the school district.

This lack of funding in conjunction with rising costs could severely affect the school system over the next 30 years. The situation emphasizes the disconnect between town planning and the educational needs of the community. Without adjustments to financial strategies, local schools may face significant operational challenges ahead.

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