The Fair Share Report
109 E 23rd St
Ship Bottom, NJ 08075
The town catches up with market prices only once a year — and only based on the average change of all homes in the area. This report checks whether this house's assessment kept pace.
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This home's payments are about right
It sits inside Ship Bottom's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $674,475 – $1,078,505, from 12 comparable Ship Bottom 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 Ship Bottom assessments sit below market value — republished every October, applied town-wide. A $762,349 home should be assessed near $404,731.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $94,731 below what the ratio math suggests (23.4%).
Step 4 · The tax rate — same for every Ship Bottom home
$0.249 Schools · 20% $0.567 County · 46% $0.425 Town · 34%
Step 5 · The bill
This home vs. every recent Ship Bottom sale · assessed ÷ market
23%67%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 101 E 30TH ST | 2025-05 | $1,350,000 | 1,008 | 36.3% |
| 253 W 21ST ST | 2025-01 | $999,999 | 834 | 33.1% |
| 276 W 16TH ST UNIT "1" | 2025-10 | $731,000 | 864 | 46.0% |
| 707 BARNEGAT AVE | 2025-06 | $650,000 | 1,024 | 51.5% |
| 2109 CENTRAL AVE | 2025-12 | $765,000 | 1,093 | 45.9% |
| 2109 CENTRAL AVE | 2025-06 | $729,000 | 1,093 | 48.1% |
| 123 E 17TH ST C17.02 | 2025-09 | $885,000 | 780 | 58.7% |
| 104 E 17TH ST | 2026-05 | $825,000 | 1,062 | 50.4% |
| 280 W 15TH ST | 2025-08 | $2,000,000 | — | 39.5% |
| 1810 CENTRAL AVE UNIT #15 | 2026-02 | $725,000 | 860 | 53.9% |
| 1810 CENTRAL AVE UNIT #13 | 2025-01 | $735,000 | 860 | 53.1% |
| 255 W 27TH ST | 2025-09 | $1,750,000 | 900 | 43.4% |
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