The Fair Share Report
505 Fordham Pl
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 $915,469 – $1,116,219, from 12 comparable Paramus sales in the past 18 months (home size estimated from assessor data — range widened).
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 $971,416 home should be assessed near $906,331.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $218,869 above what the ratio math suggests (24.1%).
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 $1.424 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Paramus sale · assessed ÷ market
65%128%
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 $3,281/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 45 LONGVIEW COURT | 2026-01 | $990,000 | 2,401 | 85.3% |
| 11 HALCO DR | 2026-01 | $901,800 | 2,349 | 82.7% |
| 68 COLGATE AVENUE | 2026-04 | $1,165,000 | 2,440 | 71.7% |
| 80 COLGATE AVENUE | 2025-04 | $1,280,000 | 2,440 | 71.5% |
| 46 OLIVER ROAD | 2025-04 | $865,000 | 2,408 | 102.3% |
| 37 VERMONT DRIVE | 2025-05 | $999,999 | 2,394 | 87.3% |
| 755 WALNUT STREET | 2025-04 | $975,000 | 2,368 | 95.5% |
| 191 MAYFAIR ROAD | 2025-05 | $1,111,000 | 2,464 | 83.7% |
| 217 SWEET BRIAR PLACE | 2026-06 | $950,000 | 2,400 | 86.2% |
| 408 CHELSEA ST | 2026-05 | $1,255,000 | 2,602 | 73.9% |
| 408 CHELSEA ST | 2025-04 | $999,995 | 2,602 | 92.7% |
| 366 FOREST AVE | 2026-02 | $860,000 | 2,236 | 94.8% |
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