The Fair Share Report
115 E 5th St
Ship Bottom, NJ 08062
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 $751,571 – $987,705, 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 $964,251 home should be assessed near $511,921.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $24,179 above what the ratio math suggests (4.7%).
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
32%77%
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 |
|---|---|---|---|---|
| 707 BARNEGAT AVE | 2025-06 | $650,000 | 1,024 | 51.5% |
| 1001 OCEAN 1ST FLR #C1012 | 2025-12 | $999,999 | 1,063 | 50.5% |
| 901 OCEAN 2ND FLR #C0926 | 2025-05 | $950,000 | 1,063 | 58.3% |
| 2109 CENTRAL AVE | 2025-12 | $765,000 | 1,093 | 45.9% |
| 2109 CENTRAL AVE | 2025-06 | $729,000 | 1,093 | 48.1% |
| 276 W 16TH ST UNIT "1" | 2025-10 | $731,000 | 864 | 46.0% |
| 215 W 23RD ST | 2025-06 | $1,100,000 | 1,078 | 37.6% |
| 216 W 5TH ST | 2025-08 | $1,225,000 | 1,224 | 37.4% |
| 1001 OCEAN 1ST FLR #C1017 | 2026-02 | $1,175,000 | 1,239 | 50.9% |
| 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% |
| 104 E 17TH ST | 2026-05 | $825,000 | 1,062 | 50.4% |
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