Revaluation

Boro of Paramus

The Bergen County Board of Taxation and the New Jersey Division of Taxation have directed the Borough of Paramus to undertake the Reassessment Program beginning with the tax year 2025 and continuing through 2029. This program will ensure uniform and equitable assessments throughout the municipality, account for the recent changes in the real estate market and significantly reduce the costly tax appeals experienced in the past. The Borough has contracted Appraisal Systems, Inc. to assist in conducting the Reassessment Program.

An inspection of the interior of 20% of the Borough’s properties must be attempted each year (2024-2028). Regardless of the percentage of properties inspected in this time frame - ALL properties in the municipality will be reassessed each year to assure current market valuations are maintained. This process helps assure that drastic changes in value are avoided over time.

Regardless of when a property is visited during this program, the new property values for the 2025 tax year will be determined based on their estimated market value as of October 1, 2024 (the statutory date required by law). It is important to note that while only 20% of properties are being inspected each year; all properties in town will be valued based on recent trends determined from a review of sales and rental activity within the past year. All property owners will be notified by mail of their proposed assessed values and will have an opportunity to question/contest the values.

Any inquiries with respect to the inspection and/or valuation procedure should be directed to Appraisal Systems, Inc. at (201) 493-8530.

Thank you for your continued cooperation during the reassessment process.