The Fair Share Report
107 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 $379,637 – $681,669, from 12 comparable Monroe sales in the past 18 months (home size estimated from assessor data — range widened).
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 $554,941 home should be assessed near $298,947.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $10,253 above what the ratio math suggests (3.4%).
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%87%
Paying about right
This home's ratio lands inside Monroe's normal band. The drift hasn't singled it out — no case for a tax appeal.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 15 DREXEL TERRACE | 2026-06 | $627,500 | 1,659 | 48.6% |
| 64 FOREST PARK TERR | 2025-03 | $590,000 | 1,868 | 54.6% |
| 14 FOREST PARK TERR | 2025-09 | $720,000 | 1,692 | 41.8% |
| 11 DREXEL TERRACE | 2025-08 | $629,900 | 1,852 | 49.9% |
| 41 TENTH AVENUE | 2025-11 | $709,000 | 1,844 | 49.9% |
| 18 FIRST AVENUE | 2025-02 | $720,000 | 1,844 | 48.0% |
| 307B MODELE PLAZA | 2025-10 | $300,000 | 1,731 | 37.2% |
| 39 DREXEL TERRACE | 2025-10 | $610,000 | 1,648 | 53.5% |
| 404B NEWPORT WAY | 2025-09 | $402,000 | 1,696 | 34.9% |
| 470B NEWPORT WAY | 2025-02 | $350,000 | 1,696 | 33.9% |
| 349A JUTLAND DRIVE | 2025-12 | $450,000 | 1,808 | 30.7% |
| 340B QUINTON DRIVE | 2025-11 | $415,000 | 1,808 | 31.8% |
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