The Fair Share Report
108 Ely Rd
Boonton, NJ 07005
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 $621,654 – $807,499, from 12 comparable Boonton 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 Boonton assessments sit below market value — republished every October, applied town-wide. A $638,893 home should be assessed near $404,164.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $25,636 above what the ratio math suggests (6.3%).
Step 4 · The tax rate — same for every Boonton home
$2.167 Schools · 62% $0.355 County · 10% $0.955 Town · 27%
Step 5 · The bill
This home vs. every recent Boonton sale · assessed ÷ market
40%78%
Paying about right
This home's ratio lands inside Boonton'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 |
|---|---|---|---|---|
| 26 CHESTNUT ST | 2026-04 | $790,000 | 1,915 | 54.5% |
| 410 MONROE ST | 2026-06 | $633,300 | 2,038 | 55.1% |
| 33 CHESTNUT ST | 2025-06 | $727,000 | 1,959 | 57.0% |
| 158 OVERLOOK AVE | 2025-02 | $742,000 | 2,428 | 61.7% |
| 982 WOOTTON ST | 2025-07 | $500,000 | 1,920 | 68.1% |
| 160 WILSON ST | 2025-03 | $661,000 | 2,102 | 50.5% |
| 417 HILL ST | 2025-04 | $532,000 | 1,998 | 56.0% |
| 141 N MAIN ST | 2026-03 | $626,000 | 1,656 | 53.8% |
| 111 SHERMAN ST | 2025-06 | $715,000 | 1,886 | 52.6% |
| 414 GREEN ST | 2025-11 | $685,000 | 2,408 | 50.7% |
| 527 OAK ST | 2025-06 | $575,000 | 1,866 | 57.8% |
| 103 RIVER RD | 2025-07 | $670,000 | 2,032 | 56.2% |
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