The Fair Share Report
115 Ely Rd
Boonton, NJ 07005
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 $772,926 – $880,782, from 12 comparable Boonton sales in the past 18 months, at this home's 2,513 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Boonton assessments sit below market value — republished every October, applied town-wide. A $810,645 home should be assessed near $512,814.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $25,714 below what the ratio math suggests (5.0%).
Step 4 · The tax rate — same for every Boonton home
$2.167 Schools · 62% $0.355 County · 10% $0.955 Town · 27%
Step 5 · The bill
This home vs. every recent Boonton sale · assessed ÷ market
40%78%
Paying about right
This home's ratio lands inside Boonton'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 |
|---|---|---|---|---|
| 144 CHESTNUT ST | 2026-04 | $860,000 | 2,666 | 60.8% |
| 100 TONER RD | 2025-07 | $780,000 | 2,536 | 62.4% |
| 725 CORNELIA ST | 2026-01 | $965,000 | 2,960 | 58.6% |
| 45 PUDDINGSTONE DR | 2026-02 | $760,000 | 2,624 | 59.8% |
| 18 COUNTRY MEADOW LN | 2026-01 | $922,000 | 2,722 | 61.6% |
| 2 JOLIE CT | 2025-07 | $918,888 | 2,304 | 50.0% |
| 105 ELY RD | 2026-05 | $1,050,000 | 3,388 | 57.6% |
| 414 GREEN ST | 2025-11 | $685,000 | 2,408 | 50.7% |
| 158 OVERLOOK AVE | 2025-02 | $742,000 | 2,428 | 61.7% |
| 701 BOONTON AVE | 2026-03 | $700,000 | 2,756 | 68.7% |
| 411 HIGHLAND AVE | 2025-01 | $715,000 | 2,040 | 54.4% |
| 37 PUDDINGSTONE DR | 2025-01 | $925,000 | 2,440 | 60.6% |
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