Ridgewood manager: Valley Hospital adds $200M in ratables, municipal tax rise limited to about 3%

Summary

Village Manager Keith Kaczmark told the council and residents that Valley Hospital’s move and added assessment increased Ridgewood’s ratables by roughly $200 million and helped limit this year’s municipal tax increase to about 3% on the average home; the property remains subject to pending tax appeals.

Village Manager Keith Kaczmark told the Ridgewood Village Council on April 23 that the addition of Valley Hospital’s campus to the village tax rolls increased the municipality’s taxable base by about $200 million and helped keep the municipal portion of the 2025 tax bill to roughly a 3% increase for the average homeowner.

Kaczmark said a state law enacted in February 2021 created a community-service per‑bed contribution that previously produced payments to Ridgewood while the hospital operated under its prior status. He said the village received just over $481,000 in 2022 (based on 430 licensed beds) and roughly $524,000 in 2023 (based on 446 beds); the 2024 figure was prorated because the hospital relocated.

The manager said after the hospital’s move to Paramus the local assessor added the former Valley Hospital campus to Ridgewood’s tax base. "It adds $200,000,000 in new ratables over last year to our tax base," Kaczmark said, and that the village’s net valuation rose to about $6.1 billion—a change he described as just…

Ridgewood manager: Valley Hospital adds $200M in ratables, municipal tax rise limited to about 3%

Summary

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