The borough’s ability to obtain millions of dollars in grants while curbing excessive spending has kept municipal taxes among the lowest of the 70 towns in affluent Bergen County.
With an annual tax bill of $9,982 for the average residence assessed at $373,110, Cliffside Park ranks ninth lowest in the county, according to the state Department of Community Affairs.
“These low tax numbers underscore how the borough’s fiscally conservative philosophy is working to aid our property owners,” said Mayor Tom Calabrese. “And when coupled with the town’s diligent ability to garner valuable grants to help revitalize our community, the tax burden is dramatically reduced.”
Additionally, in 2023, there was total of more than $33 million in new tax assessments that further lessened the financial burden on property owners, records show.
New Jersey has the highest statewide property taxes nationally and Bergen County is also ranked among the upper echelon in the country.
Since last year, the borough has received a record-breaking $11.3 million for infrastructure work that is continuing through 2024. Additionally, it has received another $15 million in state aid that will be used for the proposed 57,000 square-foot recreation-education complex and library along Edgewater Road and Palisade Ave.
The borough’s ongoing revitalization project - $32 million has been allocated since 2016 - has contributed to a higher quality of life for residents. Besides high quality services provided, the town has some of the most attractive parks in the county.
The borough’s low tax bill is even more noteworthy considering that it has a total property valuation of almost $4 billion, which is ranked 15th among Bergen County’s 70 municipalities.
“Despite the recognition our town has been receiving on both a statewide and nation level, our governing body and administration will never stop striving to continually work for our hard working taxpayers and residents,” Calabrese said.
To aid in keeping costs down, the borough for years has maintained an AA+ long term credit rating from Standard & Poors (S&P), which among other things allows a low rate of interest for funding capital projects.
The town’s popularity is well-known.
Cliffside Park is ranked the 3rd most family friendly town in the country by the popular real estate platform Opendoor. Additionally, Cliffside Park has been considered one of the safest communities in New Jersey and was recently ranked 30th of the state’s 564 municipalities.