The Fair Share Report
117 Second
Keyport, NJ 07735
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
The numbers support an appeal
Even at the cautious end of the range, this home's ratio clears NJ's Chapter 123 line (100.00%) — roughly $970/yr at stake. NJ appeals are generally due April 1.
Step 1 · Market value
Likely range $444,835 – $504,030, from 12 comparable Keyport sales in the past 18 months, at this home's 1,378 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Keyport assessments sit below market value — republished every October, applied town-wide. A $477,282 home should be assessed near $465,589.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $48,711 above what the ratio math suggests (10.5%).
Step 4 · The tax rate — same for every Keyport home
$0.999 Schools · 50% $0.205 County · 10% $0.787 Town · 40%
This home's own bill implies $1.828 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Keyport sale · assessed ÷ market
73%121%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 248 DIVISION ST. | 2026-05 | $570,000 | 1,378 | 84.2% |
| 14 COLUCO PLACE | 2025-05 | $450,000 | 1,394 | 101.9% |
| 12 COLUCO PLACE | 2025-03 | $450,000 | 1,394 | 101.9% |
| 13 THERESE AVE | 2025-05 | $533,000 | 1,584 | 98.3% |
| 231 ATLANTIC ST UNIT 55 | 2026-05 | $390,000 | 1,126 | 97.3% |
| 75 BROAD ST | 2026-03 | $400,000 | 1,372 | 109.8% |
| 9 MONMOUTH PL | 2026-01 | $485,000 | 1,392 | 92.3% |
| 20 WAVERLY STREET | 2026-06 | $549,000 | 1,560 | 101.8% |
| 138 THIRD | 2026-04 | $523,827 | 1,470 | 83.3% |
| 104 THERESE | 2026-03 | $530,000 | 1,449 | 94.4% |
| 187 WASHINGTON | 2026-06 | $580,000 | 1,227 | 95.9% |
| 44 CHURCH | 2025-04 | $470,000 | 1,474 | 100.6% |
Is this your house?
Run your own report →