The Fair Share Report
490 Salem St
Paramus, NJ 07652
The town corrects for market drift once a year — but only on average. This report measures whether this house drifted with the herd or away from it.
This home's full record →Check another house →
Step 1 · Market value
Likely range $980,779 – $1,222,875, from 12 comparable Paramus sales in the past 18 months, at this home's 2,552 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Paramus assessments sit below market value — republished every October, applied town-wide. A $1,065,997 home should be assessed near $994,575.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $512,125 above what the ratio math suggests (51.5%).
Step 4 · The tax rate — same for every Paramus home
$0.709 Schools · 47% $0.241 County · 16% $0.549 Town · 37%
This home's own bill implies $0.936 per $100 — well off the general rate. That usually means the town revalued since the last bill.
Step 5 · The bill
This home vs. every recent Paramus sale · assessed ÷ market
65%159%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (100.00%) — roughly $7,677/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 370 VALLEY VIEW AVE | 2025-01 | $911,000 | 2,544 | 50.8% |
| 366 VALLEY VIEW AVE | 2026-04 | $1,220,000 | 2,546 | 74.3% |
| 354 FOREST AVE | 2025-06 | $999,999 | 2,484 | 94.5% |
| 671 DREXEL RD | 2025-05 | $1,445,000 | 2,696 | 87.1% |
| 550 WESTBROOK CT | 2025-01 | $1,200,000 | 2,586 | 86.5% |
| 266 SETON HALL DR | 2025-05 | $950,000 | 2,612 | 125.0% |
| 46 OLIVER ROAD | 2025-04 | $865,000 | 2,408 | 102.3% |
| 408 CHELSEA ST | 2026-05 | $1,255,000 | 2,602 | 73.9% |
| 408 CHELSEA ST | 2025-04 | $999,995 | 2,602 | 92.7% |
| 37 VERMONT DRIVE | 2025-05 | $999,999 | 2,394 | 87.3% |
| 68 COLGATE AVENUE | 2026-04 | $1,165,000 | 2,440 | 71.7% |
| 80 COLGATE AVENUE | 2025-04 | $1,280,000 | 2,440 | 71.5% |
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