 The per capita income for the borough was $22,607.About 8.5% of families and 9.7% of the population were below the poverty line, including 9.9% of those under age 18 and 12.1% of those age 65 or over.Palisades Park is governed under the Borough form of New Jersey municipal government, which is used in 218 of 565 municipalities statewide, making it the most common form of government in New Jersey.