Paramus is Bergen County's shopping capital — home to Garden State Plaza, Paramus Park, and dozens of retail centers. All that commercial property generates massive tax revenue, which keeps residential property tax rates LOW. At 1.93%, Paramus has one of the lowest effective rates in Bergen County.
Paramus Tax Rate
Effective rate: approximately 1.93% (2026)
Bergen County context: - Alpine: 1.76% - Paramus: 1.93% - Tenafly: 2.00% - Ridgewood: 2.42% - Hackensack: 2.70% - Teaneck: 3.18%
Why Paramus Taxes Are So Low
One reason: retail commercial tax revenue. Paramus has more retail square footage per capita than almost any NJ municipality. Garden State Plaza alone generates millions in commercial property tax revenue. This supplements residential taxes and keeps the residential rate low.
Real Dollar Examples
| Home Price | Annual Tax | Monthly | |---|---|---| | $500,000 | $9,650 | $804 | | $650,000 | $12,545 | $1,045 | | $725,000 | $13,993 | $1,166 | | $850,000 | $16,405 | $1,367 | | $1,000,000 | $19,300 | $1,608 |
Paramus median (~$725K) costs $1,166/month in taxes — among the lowest in Bergen County.
The Paramus Advantage in Real Numbers
Compared to the same $650K home in other Bergen towns:
| Town | Rate | Annual Tax | Monthly | vs Paramus | |---|---|---|---|---| | Paramus | 1.93% | $12,545 | $1,045 | — | | Ridgewood | 2.42% | $15,730 | $1,311 | +$266/mo | | Hackensack | 2.70% | $17,550 | $1,463 | +$418/mo | | Teaneck | 3.18% | $20,670 | $1,723 | +$678/mo | | Bergenfield | 3.31% | $21,515 | $1,793 | +$748/mo |
Paramus saves $3,200-$9,000 per year vs high-tax Bergen County alternatives.
30-Year Impact
$650K home in Paramus vs Teaneck over 30 years: - Paramus (1.93%): ~$376,350 total taxes - Teaneck (3.18%): ~$620,100 total taxes - Savings in Paramus: $243,750 over 30 years
That's a quarter million dollars saved by choosing the right Bergen County town.
Paramus for Buyers
Strengths: - Low property taxes (commercial base subsidizes residential) - Central Bergen County location - Excellent retail access - Good schools (Paramus High, Paramus Catholic nearby) - Easy highway access (Rt 4, Rt 17, GSP)
Considerations: - Blue laws (most retail closed Sundays, Bergen County law) - More suburban/commercial feel than charming villages like Ridgewood - Median home price ($725K) is mid-range for Bergen County
NJHMFA in Paramus
Paramus is Bergen County (Blue tier NJHMFA). The $15,000 DPA ($22,000 with First Gen) can work on entry-level Paramus homes. Homes in the $400K-$500K range (smaller capes, older ranches) are ideal for FHA + NJHMFA stacking.
Bottom Line
Paramus's 1.93% rate is Bergen County's best-kept tax secret. The commercial tax base keeps residential rates among the lowest in the county. Combined with central location and good schools, Paramus offers some of the best total monthly costs in Bergen County.
[Paramus pre-approval](/contact/) — real monthly payment with the 1.93% rate.