The Fair Share Report
115 Eastern Ave
Somerville, NJ 08876
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 $415,051 – $532,621, from 12 comparable Somerville sales in the past 18 months, at this home's 1,144 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Somerville assessments sit below market value — republished every October, applied town-wide. A $491,636 home should be assessed near $289,082.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $20,582 below what the ratio math suggests (7.1%).
Step 4 · The tax rate — same for every Somerville home
$2.388 Schools · 59% $0.552 County · 14% $1.138 Town · 28%
Step 5 · The bill
This home vs. every recent Somerville sale · assessed ÷ market
34%73%
Paying about right
This home's ratio lands inside Somerville'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 |
|---|---|---|---|---|
| 164 E HIGH ST | 2026-06 | $402,000 | 1,210 | 58.9% |
| 202 N BRIDGE ST | 2026-06 | $640,000 | 1,342 | 39.7% |
| 20 CAMMANN PL | 2026-03 | $465,000 | 1,160 | 49.1% |
| 42 EASTERN AVE | 2025-04 | $675,000 | 1,344 | 42.7% |
| 224 E CLIFF ST | 2025-10 | $509,000 | 1,352 | 54.5% |
| 22 HAMILTON ST | 2026-06 | $520,000 | 1,210 | 34.1% |
| 109 N AUTEN AVE | 2025-07 | $505,000 | 1,152 | 51.0% |
| 361 WILLIAM ST | 2025-12 | $517,000 | 1,425 | 47.0% |
| 159 DAVENPORT ST | 2025-01 | $445,000 | 1,005 | 49.1% |
| 48 SECOND ST | 2025-12 | $320,000 | 1,244 | 49.7% |
| 113 W SUMMIT ST | 2025-06 | $375,000 | 1,174 | 54.6% |
| 161 E CLIFF ST | 2025-02 | $475,000 | 1,032 | 47.6% |
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