The Fair Share Report
11 Keep St
Madison, NJ 07940
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 $1,087,832 – $1,948,032, from 12 comparable Madison 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 Madison assessments sit below market value — republished every October, applied town-wide. A $1,603,279 home should be assessed near $965,495.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $232,695 below what the ratio math suggests (24.1%).
Step 4 · The tax rate — same for every Madison home
$1.423 Schools · 63% $0.350 County · 16% $0.481 Town · 21%
Step 5 · The bill
This home vs. every recent Madison sale · assessed ÷ market
32%77%
Paying about right
This home's ratio lands inside Madison'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 |
|---|---|---|---|---|
| 349 WOODLAND RD | 2025-04 | $1,421,000 | 2,730 | 62.6% |
| 43 HIGHLAND AVE | 2026-06 | $1,716,000 | 3,212 | 49.7% |
| 11 BAUMGARTNER DR | 2025-05 | $1,635,000 | 2,648 | 51.7% |
| 12 BAUMGARTNER DR | 2025-09 | $1,150,000 | 2,988 | 76.7% |
| 77 VALLEY RD | 2026-02 | $1,900,000 | 2,851 | 50.8% |
| 190 PARK AVE | 2026-05 | $1,189,000 | 2,900 | 66.4% |
| 2 BRANNICK DR | 2025-10 | $2,200,000 | 3,204 | 51.1% |
| 107 GREENWOOD AVE | 2026-01 | $1,631,000 | 2,883 | 53.6% |
| 96 GREENWOOD AVE | 2025-01 | $1,950,000 | 3,380 | 55.1% |
| 24 FAIRVIEW AVE | 2026-04 | $2,310,000 | 3,367 | 45.0% |
| 50 PROSPECT ST | 2026-05 | $999,999 | 2,719 | 77.5% |
| 5 EAST LN | 2025-07 | $2,550,000 | 3,588 | 54.8% |
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