Every Ridgewood listing sheet this fall has a line for annual property taxes. A typical figure for a home assessed at the Village average of $715,000 works out to about $21,650 for 2026. That number is accurate. It also comes from an assessment system whose last reset, by the Village Tax Assessor's account, was a reassessment in 2012, with the last full revaluation in 2008. Appraisal Systems, Inc., the firm doing the current work, dates the last reassessment to 2013. Either way, the bill on that sheet reflects how Ridgewood homes compared with one another more than a decade ago.
That changes with the 2027 tax year. The Village is reassessing every taxable property at its estimated market value as of October 1, 2026. For a buyer comparing Ridgewood with its neighbors, the current bill tells you less than one other question: did this house gain value faster or slower than Ridgewood as a whole?
The gap between assessments and sale prices has been growing every year
New Jersey measures how well a town's assessments track the market with an average assessment-to-sales ratio. When William Palumbo became Ridgewood's Tax Assessor in January 2022, that ratio was 84.43%. The state's certified figures since then show the slide.
| Tax year | Ridgewood average ratio | Source |
|---|---|---|
| 2022 | 84.43% | Tax Assessor, per Village Council minutes |
| 2025 | 67.39% | NJ Division of Taxation certification |
| 2026 | 60.52% | NJ Division of Taxation certification |
| 2027 | 56.09% | NJ Division of Taxation certification, signed September 22, 2026 |
The newest figure comes from the state's 2027 Chapter 123 certification. It puts Ridgewood assessments at about 56% of market value on average. Ramsey sits at 91.90% on the same list. Ramsey finished a town-wide reassessment that took effect in 2025 and now revalues every property each year. So when a buyer sets a Ramsey tax bill next to a Ridgewood one, they are comparing a current measuring stick with one that is many years out of date.
The low average is only part of it. Ridgewood's coefficient of deviation, a measure of how evenly the assessments track sale prices, stood at 14.57 according to Appraisal Systems. According to the minutes of the March 25, 2026 Village Council work session, the firm's Rob Brescia told the Council this means sales are happening across a wide range of ratios, "with some properties paying proportionally too much and others are paying too little." Two houses with similar tax bills today may sit at quite different points on that range.
The total stays the same, but the shares move
None of this raises the overall amount Ridgewood collects. Brescia told the Council that reassessments are revenue neutral by law. The school, county and municipal budgets set the total levy, so as total assessed value rises, the tax rate falls in proportion. The same Council minutes record Village Manager Keith Kazmark saying that no new money is collected and that the process "re-distributes the existing tax burden."
Appraisal Systems' public Ridgewood presentation shows how this works with a property labeled "For Example Purposes Only." It assumes total assessed value in Ridgewood rises 1.6 times, which cuts the rate by the same factor.
| Hypothetical Property A | Assessment | Rate per $100 | Annual taxes |
|---|---|---|---|
| Before | $715,000 | $2.890 | $20,664 |
| After, rises exactly 1.6x | $1,144,000 | $1.806 | $20,661 |
| After, rises less than average | $1,100,000 | $1.806 | $19,866 |
| After, rises more than average | $1,200,000 | $1.806 | $21,672 |
Two things about that table. The "before" rate of $2.890 is Ridgewood's 2025 rate. The actual 2026 general tax rate was 3.028, according to the Village's August 12, 2026 tax presentation. The 1.6 multiplier is also an assumption. The real townwide factor won't be known until the new values are finished. What the example does show is the mechanism. With a 1.6x average, a house whose value climbs a bit less pays a bit less, and one that climbs a bit more pays a bit more. Brescia said the same in his remarks to the Council.
At a January 21, 2026 meeting, Village officials gave a rough expectation: about a third of properties would go up, a third would go down, and a third would stay about the same. They did not say which kinds of homes would fall into which group.
What "faster than average" means on a Ridgewood street
The Appraisal Systems presentation lists the factors that make a reassessment necessary. Besides the age of the last reassessment and the ratio, they include changes in the characteristics of areas or neighborhoods within the municipality and of individual properties, and "fads," described as the desirability of architecture, size of home and similar features. One of the firm's steps is "analysis and market adjustment by neighborhood."
For a buyer, this changes how a listing sheet works. Two Ridgewood homes with nearly identical 2026 bills started from assessments set a decade or more ago. Since then, buyer demand for particular sizes, styles and parts of town has shifted. The reassessment will price each house against the market as of October 1, 2026, not against its old assessment. A house whose part of the market grew fastest takes a larger share of the same total levy, and one that grew more slowly takes a smaller share. The current tax figure can't tell you which group a house belongs to.
The calendar that matters for anyone buying or selling now
The fieldwork began in spring 2026, but the order behind it dates to December 2024, when the Bergen County Board of Taxation issued a revaluation order for Ridgewood and eight other municipalities, including Midland Park, Hackensack and Fort Lee. The County Board then let Ridgewood do a reassessment instead, because the Village's tax maps would not be finished before inspections had to begin. Palumbo estimated the switch saves about $400,000 compared with a full revaluation.
The steps Appraisal Systems laid out for the Council are below.
- Door-to-door property inspections starting around the week of April 6, 2026. NorthJersey.com reported that introductory letters went to all property owners on March 20.
- Interior inspections at callback appointments. Owners who weren't home get a yellow card.
- Analysis and market adjustment by neighborhood.
- Preliminary value letters mailed no earlier than November 10, 2026. A projected tax calculator, neighborhood maps and sales data will be posted on the Appraisal Systems website.
- Informal meetings where owners can discuss their proposed assessments.
- All data submitted to the Village and County in early 2027.
- Appeals to the Bergen County Board of Taxation for owners who are still dissatisfied.
The Appraisal Systems project page, with a status date of September 18, 2026, still lists inspector assignments and does not give a mailing date for the letters. According to the firm's presentation, the informal meetings are one-on-one, by appointment, usually held at the municipal building, with morning, afternoon and evening slots Monday through Saturday.
The calendar matters for a transaction this season. A home that goes under contract in October may carry a 2026 bill now and get a preliminary 2027 value in mid-November or later. In a sale that runs into winter, that projected figure may show up before closing. The sources we reviewed don't say when the first 2027 bills based on the new assessments will be issued.
The appeal date moves in a reassessment year
New Jersey's general deadline for County Board and direct Tax Court petitions is April 1. In a municipality that has undertaken a revaluation or reassessment, the Division of Taxation moves it to May 1. Applied to Ridgewood's 2027 reassessment year, that rule points to May 1, 2027. Owners who close in early 2027 will be working against that date along with everything else in a move.
Questions that come up during a sale
Is the tax figure on a Ridgewood listing wrong? No. It is the bill under the current assessment and the 2026 rate of 3.028. It just predicts 2027 less well than it would in a typical year.
Does the reassessment raise Ridgewood's taxes overall? By law it is revenue neutral. The total collected depends on school, county and Village budgets, and those decisions are separate from the reassessment.
A stranger says they need to inspect the house. Is that real? Some residents wondered whether the Appraisal Systems letters were a scam, and Councilmember Winograd brought it up at the March work session. The firm posts each inspector's photo and number online and shares inspector identification with the Village Clerk and Police Department. It also offers interior inspections by video call. The project page asks owners not to let anyone in without proper identification.
Where does the tax money go now? Using the Village's 2026 breakdown for a home assessed at $715,000, schools account for $13,363.35, the Village for $5,119.40 and the County for $2,581.15. Library and open space charges make up the rest.
If you are thinking about a Ridgewood purchase or sale with a closing set for late 2026 or early 2027, I'm glad to go through the preliminary values with you once Appraisal Systems mails them, and to look at how one specific house compares with the comparable sales in its part of the Village. Request a personalized market consultation with Claudia H. Sanchez.
This article is general information, not legal, tax or financial advice. Consult a qualified professional about your situation.
