Palisades Park property tax runs at a general rate of 1.463 per $100 of assessed value for 2025, billed in four quarterly installments with a 10-day grace period on each.1NJ.gov. 2025 General Tax Rates A home assessed at $200,000 generates a bill of roughly $2,926 for the year. That single rate bundles three separate levies: the borough’s municipal budget, Bergen County’s share, and the Palisades Park school district, which is typically the largest slice.
When Payments Are Due
New Jersey runs property taxes on a quarterly calendar. Installments are due February 1, May 1, August 1, and November 1. A payment received by the 10th of the month avoids any penalty. If the 10th falls on a weekend or holiday, the deadline moves to the next business day.
The February and May bills are estimates based on the prior year’s total. Once the current year’s budget is adopted and the rate is finalized, the August and November bills reflect the new figure and settle up any difference from the first half of the year.
How to Pay Your Bill
You’ll need your Block and Lot numbers to make a payment. They identify your parcel and appear on your annual tax bill and the assessment postcard mailed by the borough. You’ll also need your tax account number and the quarterly voucher included with the bill. If you’ve lost the paperwork, the Tax Collector’s office can issue a replacement, or you can check the borough website.2Borough of Palisades Park. Office of the Tax Collector/Assessor
Three options are available:
- In person at the Tax Collector’s office in Palisades Park Borough Hall during business hours. Write your Block and Lot numbers on the memo line of your check or money order.
- By mail to the Borough of Palisades Park Tax Collector, 275 Broad Avenue, Palisades Park, NJ 07650. The postmark does not count; the payment must arrive within the grace period.
- Online through the borough’s electronic payment portal, by bank account or credit card. Save the digital confirmation for your records.
If your mortgage lender collects escrow, the servicer pays the borough on your behalf. Check each quarter that the payment actually posted. The borough holds the property owner responsible for any delinquency, no matter who was supposed to send the money. After a refinance or payoff, confirm the Tax Collector’s office has your current mailing address so future bills come straight to you.
What Happens If You Pay Late
Once the grace period closes, interest is charged back to the original due date, not from the 10th. New Jersey law sets interest at 8% per year on the first $1,500 of the delinquent balance and 18% per year on anything above that. If your balance owed at year-end exceeds $10,000 and remains unpaid on December 31, the borough can add a 6% year-end penalty on top of the accrued interest.
These charges are statutory. The Tax Collector cannot waive them. A payment that arrives a single day after the grace window will still carry interest backdated to the first of the month.
Tax Lien Sales
Unpaid taxes in New Jersey eventually trigger a tax lien sale. Each municipality is required to hold one annually, and investors bid on the right to collect the unpaid amount plus interest. After the lien is sold, the owner must repay the lien holder in full, with interest and fees, to clear it. If the debt sits unresolved, the lien holder can start foreclosure. By the time your property appears on the published sale list, substantial penalties have already piled on.
Relief Programs That Can Lower Your Bill
Several New Jersey programs reduce what you owe or reimburse part of what you’ve already paid. Most require an annual application, and eligibility varies.
- Senior Freeze (Property Tax Reimbursement) reimburses homeowners 65 or older, or those receiving Social Security disability, for property tax increases above a base year amount. You must have lived in the home at least three years, meet the state income limits, and reapply each year.
- The veteran deduction gives $250 off the annual bill for honorably discharged New Jersey veterans. Surviving spouses of qualifying veterans may also receive it.
- The senior and disabled citizen deduction provides $250 off the annual bill for residents 65 or older or permanently disabled, subject to a state income limit.
- The disabled veteran exemption may fully exempt the primary residence of a veteran with a 100% permanent and total service-connected disability.
Local deductions are filed through the Palisades Park Tax Assessor’s office. State-administered benefits like the Senior Freeze go through the New Jersey Division of Taxation. Deadlines differ, so call the Tax Collector’s office early in the year to confirm what applies to you and when it’s due.2Borough of Palisades Park. Office of the Tax Collector/Assessor
Appealing Your Assessment
If your assessed value is higher than what your home would actually sell for, you can file an appeal. The deadline is April 1 of the current tax year, or 45 days after the borough completes its bulk mailing of assessment notices, whichever is later.3New Jersey Revised Statutes. New Jersey Code 54-3-21 – Appeal by Taxpayer or Taxing District Appeals go to the Bergen County Board of Taxation.
You need evidence, not just a complaint about the bill. The strongest proof is comparable sales: recent transactions involving similar nearby properties that closed before the October 1 valuation date of the preceding year. An independent appraisal strengthens the case but adds cost. The board applies the Chapter 123 formula, which adjusts the assessed value by the county equalization ratio to decide whether it genuinely exceeds market value. A meaningful gap can produce a reduction.
A successful appeal lowers your assessed value, not the tax rate, so savings scale with how much the assessment comes down. Properties assessed above $1 million skip the county board and go directly to the New Jersey Tax Court, a more formal venue where legal representation matters. Filing fees are modest in either forum, but gathering comparable sales takes time. Start pulling your data well before April 1 so you aren’t working against the clock.3New Jersey Revised Statutes. New Jersey Code 54-3-21 – Appeal by Taxpayer or Taxing District