The Fair Share Report
118 Wright St
Newark, NJ 07059
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 $713,785 – $923,471, 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 $850,844 home should be assessed near $346,208.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $24,908 below what the ratio math suggests (7.2%).
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 |
|---|---|---|---|---|
| 14 SEABURY CT | 2025-12 | $920,000 | 3,136 | 31.9% |
| 18--20 WAINWRIGHT ST | 2025-03 | $750,000 | 3,162 | 35.3% |
| 595-597 S 17TH ST | 2025-09 | $720,000 | 3,242 | 34.2% |
| 615-617 4TH ST | 2025-08 | $800,000 | 3,224 | 42.1% |
| 803-805 S 14TH ST | 2025-07 | $700,000 | 3,141 | 40.5% |
| 586 S 19TH ST | 2025-10 | $910,000 | 3,312 | 31.3% |
| 617-619 5TH ST | 2025-05 | $850,000 | 3,164 | 38.2% |
| 559-561 HAWTHORNE AVE | 2025-07 | $810,000 | 3,124 | 35.9% |
| 15-17 WHARTON ST | 2026-04 | $915,000 | 3,064 | 30.8% |
| 744-746 S 12TH ST | 2025-04 | $875,000 | 3,078 | 30.4% |
| 28 BRANFORD ST | 2026-01 | $865,000 | 3,182 | 36.4% |
| 22-24 AVON AVE | 2025-12 | $910,000 | 3,198 | 30.2% |
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