The Fair Share Report
112 E 3rd St
Ship Bottom, NJ 08008
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 $1,029,780 – $1,538,933, 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 $1,256,147 home should be assessed near $666,888.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $193,112 above what the ratio math suggests (29.0%).
Step 4 · The tax rate — same for every Ship Bottom home
$0.249 Schools · 20% $0.567 County · 46% $0.425 Town · 34%
This home's own bill implies $1.212 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Ship Bottom sale · assessed ÷ market
32%89%
A touch high — worth watching
This home's ratio sits above most of Ship Bottom, but doesn't clear NJ's legal appeal line (61.05%).
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 358 W 6TH ST | 2025-07 | $1,215,000 | 1,768 | 43.9% |
| 303 W 15TH ST | 2026-01 | $1,150,000 | 1,920 | 45.2% |
| 242 W 14TH ST | 2025-10 | $1,200,000 | 2,024 | 46.2% |
| 334 W 5TH ST | 2025-03 | $1,325,000 | 2,124 | 40.8% |
| 346 W 7TH ST | 2026-04 | $1,450,000 | 1,790 | 42.4% |
| 901 OCEAN 3RD FLR #C0906 | 2025-10 | $1,555,000 | 1,635 | 51.9% |
| 354 W 11TH ST | 2025-07 | $1,100,000 | 1,284 | 31.8% |
| 105 W 27TH ST | 2025-02 | $1,350,000 | 1,408 | 34.1% |
| 357 W 10TH ST | 2025-10 | $1,550,000 | 2,131 | 40.6% |
| 280 W 15TH ST | 2025-08 | $2,000,000 | — | 39.5% |
| 276 W 13TH ST | 2025-03 | $1,140,000 | 2,016 | 48.6% |
| 250 W 18TH ST | 2025-02 | $1,301,850 | 1,726 | 41.1% |
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