The Fair Share Report
107 Second Ave
Cape May, NJ 08034
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 $844,217 – $1,418,959, from 12 comparable Cape May 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 Cape May assessments sit below market value — republished every October, applied town-wide. A $1,115,140 home should be assessed near $566,826.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $65,174 above what the ratio math suggests (11.5%).
Step 4 · The tax rate — same for every Cape May home
$0.347 Schools · 32% $0.384 County · 35% $0.361 Town · 33%
Step 5 · The bill
This home vs. every recent Cape May sale · assessed ÷ market
30%80%
Paying about right
This home's ratio lands inside Cape May'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 |
|---|---|---|---|---|
| 1407-1409 HARBOR LA | 2024-12 | $999,999 | 1,216 | 53.9% |
| 936 LAFAYETTE ST | 2026-04 | $1,049,750 | 1,532 | 54.1% |
| 1621 BEACH AVE | 2025-01 | $1,500,000 | 1,320 | 54.5% |
| 827 WASHINGTON ST #101 | 2026-03 | $1,495,000 | 1,523 | 39.1% |
| 1520 YACHT AVE | 2025-10 | $1,200,000 | 1,427 | 41.4% |
| 1520 YACHT AVE | 2025-06 | $975,000 | 1,427 | 51.0% |
| 1520 YACHT AVE | 2025-09 | $950,000 | 1,070 | 49.0% |
| 1043 VIRGINIA AVE | 2025-05 | $1,560,000 | 1,462 | 35.3% |
| 1520 YACHT AVE | 2025-08 | $969,000 | 1,048 | 51.8% |
| 1045-1047 LAFAYETTE ST | 2026-03 | $830,000 | 1,140 | 35.5% |
| 1353 WISCONSIN AVE | 2025-03 | $852,500 | 1,251 | 47.0% |
| 10 CONGRESS ST | 2025-07 | $1,750,000 | 1,066 | 51.8% |
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