Boonton was originally formed on March 16, 1866, within portions of Hanover Township and Pequannock Township. The town was reincorporated and became independent on March 18, 1867. Francis T. Budd is found on an 1865 IRS TAX assessment list in Boonton. You may want to check records of Hanover and surrounding townships.
Sometimes knowing the genealogy of the towns and counties in an area helps in deciding where to research.