The Fair Share Report
111 Third St
Ocean, NJ 08005
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
This home's payments are about right
It sits inside Ocean's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $311,250 – $427,511, from 12 comparable Ocean sales in the past 18 months, at this home's 996 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Ocean assessments sit below market value — republished every October, applied town-wide. A $355,000 home should be assessed near $328,269.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $62,069 below what the ratio math suggests (18.9%).
Step 4 · The tax rate — same for every Ocean home
$0.713 Schools · 45% $0.339 County · 21% $0.526 Town · 33%
Step 5 · The bill
This home vs. every recent Ocean sale · assessed ÷ market
57%105%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 204 SECOND STREET | 2025-09 | $363,000 | 908 | 63.3% |
| 138 SENECA BOULEVARD | 2025-01 | $355,000 | 996 | 82.9% |
| 109 CALDWELL ROAD | 2026-02 | $467,000 | 1,088 | 94.8% |
| 357 TUSCARORA AVENUE | 2025-04 | $435,000 | 936 | 64.9% |
| 103 DOVER COURT | 2025-07 | $385,000 | 1,160 | 77.3% |
| 18 MIZZEN WAY | 2025-03 | $340,000 | 869 | 73.3% |
| 11 CENTRAL AVENUE | 2025-07 | $245,000 | 932 | 85.3% |
| 26 BAYBERRY DRIVE | 2025-08 | $289,000 | 888 | 75.0% |
| 46 BRYANT ROAD | 2025-09 | $330,000 | 1,040 | 67.5% |
| 3 OAK STREET | 2025-05 | $316,500 | 1,036 | 77.4% |
| 76 POPLAR STREET | 2026-02 | $360,000 | 1,170 | 69.1% |
| 17 LONG JOHN SILVER WAY | 2025-10 | $645,000 | 1,306 | 86.0% |
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