The Fair Share Report
701 Ter Dr
Paramus, NJ 07660
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 $825,000 – $1,259,773, from 12 comparable Paramus sales in the past 18 months, at this home's 2,000 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 $912,201 home should be assessed near $851,084.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $1,536,116 above what the ratio math suggests (180.5%).
Step 4 · The tax rate — same for every Paramus home
$0.709 Schools · 47% $0.241 County · 16% $0.549 Town · 37%
Step 5 · The bill
This home vs. every recent Paramus sale · assessed ÷ market
65%295%
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 $23,026/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 519 GREEN VALLEY RD. | 2025-03 | $1,750,000 | — | 99.8% |
| 20 GABRIEL COURT | 2026-04 | $999,995 | 1,586 | 106.1% |
| 14 GABRIEL COURT | 2026-03 | $999,000 | 1,586 | 106.2% |
| 12 GABRIEL COURT | 2026-02 | $1,040,000 | 1,586 | 102.0% |
| 577 FOREST AVENUE | 2025-05 | $800,000 | 1,754 | 102.0% |
| 672 RUTGERS PLACE | 2025-06 | $825,000 | 2,000 | 152.9% |
| W 38 RIDGEWOOD AVE | 2026-05 | $900,000 | 2,015 | 86.1% |
| 118 SCARLET OAK LANE | 2025-02 | $918,000 | 2,308 | 100.2% |
| 16 MULBERRY COURT | 2025-02 | $975,000 | 2,308 | 94.4% |
| 603 FOREST AVENUE | 2025-03 | $940,000 | 1,976 | 96.6% |
| 656 SEAGULL DRIVE | 2025-02 | $982,000 | 2,202 | 87.7% |
| 482 TULANE COURT | 2026-06 | $800,000 | 1,972 | 95.4% |
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