Parsippany-Troy Hills Township, commonly called Parsippany, is a township in Morris County, New Jersey, United States. As of the United States 2000 Census, the township population was 50,649. The name Parsippany comes from the Lenape Native American word parsipanong, which means "the place where the river winds through the valley". Parsippany-Troy Hills is the most populous municipality in Morris County.Parsippany-Troy Hills was incorporated as a township by an act of the New Jersey Legislature on March 12, 1928, from portions of Hanover Township, based on the results of a referendum held on May 9, 1928.In 2006, Parsippany-Troy Hills was recognized by Money magazine as the 17th-ranked of the Best Places to Live in the United States, the highest-ranked location in New Jersey. In 2008, it moved up to 13th position. The township was not on the 2007 list because that year's list included only municipalities with a population of 50,000 or less.