The Fair Share Report
745 Prescott Pl
Paramus, NJ 07652
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
This home's payments are about right
It sits inside Paramus's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $736,763 – $897,775, 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 $857,743 home should be assessed near $800,274.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $164,474 below what the ratio math suggests (20.6%).
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 $1.402 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%114%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 326 SOUTH DRIVE | 2026-05 | $700,000 | 1,712 | 104.0% |
| 149 VILLAGE CIRCLE W | 2026-02 | $840,000 | 1,657 | 75.6% |
| 416 VALLEY VIEW AVE | 2025-04 | $728,888 | 1,663 | 96.3% |
| 160 REID WAY | 2026-04 | $815,000 | 1,710 | 85.9% |
| 296 MONTANA STREET | 2025-02 | $808,500 | 1,653 | 219.7% |
| 295 GEORGIAN DRIVE | 2026-03 | $882,000 | 1,616 | 80.7% |
| 331 LOCKWOOD DRIVE | 2025-05 | $850,000 | 1,636 | 58.5% |
| 490 WILSON AVENUE | 2026-01 | $835,000 | 1,645 | 77.2% |
| 761 CATHY ANN COURT | 2025-02 | $850,000 | 1,616 | 96.0% |
| 245 SPRING VALLEY RD | 2025-03 | $750,000 | 1,669 | 57.1% |
| 46 KNOLLWOOD DRIVE | 2026-05 | $803,000 | 1,766 | 82.9% |
| 331 ELLEN PLACE | 2026-01 | $880,000 | 1,580 | 85.8% |
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