Paramus, Bergen County, New Jersey Property Taxes

Name: Property Tax Bills Across Paramus, Bergen County, New Jersey
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Paramus, NJ effective property tax rate: 1.55%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median Paramus, NJ home value: $637,500
Median annual Paramus, NJ tax bill: $9,889, $7,489 higher than the national median property tax bill of $2,400.

How are property taxes in Bergen County calculated?

Property taxes in Paramus, NJ are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Paramus’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Paramus, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Paramus, Bergen County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.55%

Estimate Property Tax Bill

$9,881

$9,170

Ownwell’s Paramus Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Paramus with just two data points.

By entering your property's estimated assessed value, our calculator applies Paramus’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Bergen County — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Bergen County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Paramus, Bergen County, New Jersey

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Paramus’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.

In Paramus, Bergen County, the property tax rate is higher than the national median. This reflects the local government's commitment to providing quality services to its residents. For homeowners, understanding these rates is crucial, as they significantly impact annual expenses. While the national median property tax rate is 1.02%, Paramus stands out with a rate that surpasses this figure. This difference highlights the importance of being informed about local tax obligations and seeking potential appeals or exemptions. By staying informed, property owners can make strategic decisions to manage their expenses effectively.

Property Tax Rates Across Paramus, Bergen County, New Jersey

Source: Ownwell

0.74%

2.48%

4.23%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Paramus Tax Rate

1.55%

Median Effective Bergen County Tax Rate

2.73%

Median Effective New Jersey Tax Rate

2.82%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Paramus, Bergen County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07652	1.55%	1.55%	1.55%	1.55%	1.55%

Source: Ownwell

Property Tax Assessment Values Across Paramus, Bergen County, New Jersey

When examining property taxes in Paramus, NJ, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Bergen County Tax Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Bergen County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Paramus.

For example, the median home price in Paramus is $637,500, with tax bills ranging significantly across the county. Zip code 07652 has the highest median home price at $637,500.

Property Tax Assessment Values Across Paramus, Bergen County, New Jersey

Source: Ownwell

$256,600

$1,236,600

$2,216,600

Median Paramus Market Value

$637,500

Median Bergen County Market Value

$421,800

Median New Jersey Market Value

$282,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Paramus, Bergen County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07652	$488,000	$548,900	$637,500	$778,500	$1,035,400

Source: Ownwell

Property Tax Bills Across Paramus, Bergen County, New Jersey

In Paramus, Bergen County, NJ, property tax bills are determined by the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. With a median home price of $637,500, homeowners often face significant tax bills. In fact, the median property tax bill in Paramus is notably higher than the national median of $2,400, reflecting the area's premium property values. Factors such as property size, location, and improvements can also influence the assessed value, impacting the final tax bill. For many homeowners, these taxes can be a substantial financial burden. Ownwell offers a solution by providing property tax appeal and exemption services. By analyzing each property's assessed value and comparing it to market trends, Ownwell identifies opportunities for tax reductions. This can lead to significant savings, helping homeowners manage their expenses more effectively.

Property Tax Bills Across Paramus, Bergen County, New Jersey

Source: Ownwell

$4,393

$11,280

$18,167

Median Paramus Tax Bill

$9,889

Median Bergen County Tax Bill

$11,253

Median New Jersey Tax Bill

$8,227

Median United States Tax Bill

$2,400

Property Tax Bills Across Paramus, Bergen County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07652	$7,577	$8,517	$9,889	$12,090	$16,063

Source: Ownwell