The Fair Share Report
116 Smith St
Newark, NJ 07106
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 $520,943 – $741,328, from 12 comparable Newark 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 Newark assessments sit below market value — republished every October, applied town-wide. A $622,347 home should be assessed near $253,233.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $37,333 below what the ratio math suggests (14.7%).
Step 4 · The tax rate — same for every Newark home
$1.162 Schools · 29% $0.519 County · 13% $2.318 Town · 58%
Step 5 · The bill
This home vs. every recent Newark sale · assessed ÷ market
18%58%
Paying about right
This home's ratio lands inside Newark'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 |
|---|---|---|---|---|
| 22 ELM ST | 2025-04 | $695,000 | — | 7.2% |
| 85 3RD ST | 2025-02 | $790,000 | 2,523 | 33.0% |
| 512 S 17TH ST | 2026-02 | $625,000 | 2,591 | 24.5% |
| 758 S 17TH ST | 2025-07 | $720,000 | 2,598 | 19.9% |
| 31 5TH ST | 2025-09 | $175,000 | — | 10.6% |
| 90 WARWICK ST | 2025-10 | $700,000 | 2,563 | 31.8% |
| 103 S 10TH ST | 2026-05 | $620,000 | 2,600 | 31.9% |
| 19 MYRTLE AVE | 2025-09 | $560,000 | 2,752 | 36.6% |
| 120 LITTLETON AVE | 2025-12 | $455,000 | 2,684 | 49.6% |
| 601 S 18TH ST | 2026-03 | $200,000 | — | 19.0% |
| 134 LITTLETON AVE | 2025-10 | $550,000 | — | 4.8% |
| 871 S 19TH ST | 2026-02 | $715,000 | 2,698 | 20.0% |
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