The Fair Share Report
116 Smith Ln
Runnemede, NJ 08078
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 $271,081 – $326,460, from 12 comparable Runnemede 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 Runnemede assessments sit below market value — republished every October, applied town-wide. A $290,462 home should be assessed near $159,609.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $39,509 below what the ratio math suggests (24.8%).
Step 4 · The tax rate — same for every Runnemede home
$2.421 Schools · 51% $0.953 County · 20% $1.406 Town · 29%
Step 5 · The bill
This home vs. every recent Runnemede sale · assessed ÷ market
31%70%
Paying about right
This home's ratio lands inside Runnemede'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 |
|---|---|---|---|---|
| 769 W 3RD AVE | 2025-10 | $340,000 | 1,120 | 43.0% |
| 123 MITCHELL AVE | 2026-05 | $300,000 | 1,198 | 47.5% |
| 97 N READ AVE | 2026-06 | $225,000 | 1,092 | 61.2% |
| 25 W 1ST AVE | 2025-10 | $305,000 | 1,226 | 45.0% |
| 56 S OAKLAND AVE | 2026-05 | $306,500 | 1,204 | 43.8% |
| 50 FERNDALE | 2025-06 | $271,000 | 1,130 | 57.7% |
| 221 CHESTNUT ST | 2025-08 | $300,000 | 1,224 | 42.2% |
| 146 SCHUBERT AVE | 2025-02 | $327,000 | 1,236 | 43.8% |
| 415 CENTER AVE | 2025-09 | $325,000 | 1,112 | 45.2% |
| 413 W 1ST AVE | 2025-11 | $370,000 | 1,064 | 36.2% |
| 600 CENTRAL AVE | 2025-07 | $285,000 | 1,104 | 45.4% |
| 12 E 10TH AVE | 2025-10 | $252,000 | 1,276 | 50.8% |
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