The Fair Share Report
105 Applegate Ave
Monroe, NJ 08831
The town corrects for market drift once a year — but only on average. This report measures whether this house drifted with the herd or away from it.
This home's full record →Check another house →
Step 1 · Market value
Likely range $278,603 – $365,248, from 12 comparable Monroe sales in the past 18 months, at this home's 1,392 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Monroe assessments sit below market value — republished every October, applied town-wide. A $308,996 home should be assessed near $166,456.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $108,044 above what the ratio math suggests (64.9%).
Step 4 · The tax rate — same for every Monroe home
$1.535 Schools · 56% $0.608 County · 22% $0.596 Town · 22%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
22%104%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (61.95%) — roughly $2,960/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 217B MAYFLOWER WAY | 2026-05 | $279,000 | 1,374 | 24.1% |
| 228A MANCHESTER LANE | 2025-08 | $275,000 | 1,374 | 26.1% |
| 219A MANCHESTER LANE | 2025-02 | $240,000 | 1,374 | 28.3% |
| 17B CELTIS PLAZA | 2025-09 | $425,000 | 1,406 | 34.9% |
| 259B OLD NASSAU RD | 2026-04 | $275,000 | 1,374 | 25.4% |
| 267B MILFORD LANE | 2026-01 | $250,000 | 1,374 | 27.2% |
| 253A MYSTIC LANE | 2025-10 | $290,000 | 1,374 | 26.1% |
| 58B ESSEX ROAD | 2025-10 | $325,000 | 1,368 | 31.4% |
| 303B SHARON WAY | 2026-05 | $305,000 | 1,374 | 27.3% |
| 298B SHARON WAY | 2025-08 | $260,000 | 1,374 | 27.6% |
| 18 DRAKE AVENUE | 2025-11 | $540,000 | 1,392 | 50.4% |
| 16 FIRST AVENUE | 2025-04 | $545,000 | 1,392 | 49.6% |
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