The Fair Share Report
116 Cedar Ln
Closter, NJ 07624
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 $2,118,669 – $2,553,944, from 12 comparable Closter sales in the past 18 months, at this home's 4,560 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Closter assessments sit below market value — republished every October, applied town-wide. A $2,381,201 home should be assessed near $2,049,738.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $39,962 above what the ratio math suggests (1.9%).
Step 4 · The tax rate — same for every Closter home
$1.285 Schools · 62% $0.239 County · 12% $0.547 Town · 26%
This home's own bill implies $1.933 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Closter sale · assessed ÷ market
66%104%
Paying about right
This home's ratio lands inside Closter'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 |
|---|---|---|---|---|
| 115 OAK ST | 2025-02 | $2,500,000 | 4,828 | 91.8% |
| 8 WALKER AVE | 2025-04 | $3,150,000 | 4,714 | 92.9% |
| 214 DURIE AVE | 2026-03 | $1,850,000 | 4,797 | 92.8% |
| 186 HICKORY LN | 2026-04 | $2,570,000 | 5,108 | 90.8% |
| 520 HOMANS AVE | 2026-05 | $2,275,000 | 4,331 | 81.2% |
| 410 PIERMONT RD | 2025-02 | $1,545,000 | 4,804 | 105.4% |
| 51 MC CAIN COURT | 2025-01 | $2,450,000 | 4,626 | 90.0% |
| 11 BLACKLEDGE COURT | 2026-02 | $2,350,000 | 4,408 | 82.3% |
| 8 CHURCH CT | 2026-05 | $2,671,000 | 4,769 | 74.5% |
| 49 ALPINE DR | 2025-01 | $1,983,000 | 4,268 | 89.3% |
| 175 HIGH ST | 2026-01 | $1,400,000 | 3,942 | 92.5% |
| 47 IRENE CT | 2025-02 | $2,450,000 | 3,882 | 92.5% |
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