The Fair Share Report
119 Spring St
Lodi, NJ 07644
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.
This home's payments are about right
It sits inside Lodi's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $659,942 – $831,853, from 12 comparable Lodi 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 Lodi assessments sit below market value — republished every October, applied town-wide. A $793,077 home should be assessed near $411,845.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $77,745 below what the ratio math suggests (18.9%).
Step 4 · The tax rate — same for every Lodi home
$1.962 Schools · 55% $0.409 County · 12% $1.169 Town · 33%
Step 5 · The bill
This home vs. every recent Lodi sale · assessed ÷ market
31%65%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 116 SPRING ST | 2025-12 | $760,000 | 1,748 | 41.3% |
| 21 PINE ST | 2025-07 | $780,000 | 2,040 | 40.6% |
| 34 FIRST ST | 2025-03 | $390,000 | 1,776 | 67.7% |
| 152 WASHINGTON ST | 2025-08 | $550,000 | 1,684 | 53.5% |
| 198 FARNHAM AVE | 2025-01 | $875,000 | 2,000 | 32.1% |
| 15 FIRST ST | 2026-03 | $965,000 | 2,090 | 35.0% |
| 15 FIRST ST | 2025-08 | $877,000 | 2,090 | 38.6% |
| 71 MAC ARTHUR AVE | 2025-07 | $810,000 | 1,855 | 34.3% |
| 216 FARNHAM AVE | 2025-07 | $775,000 | 2,088 | 41.9% |
| 72 AVE A | 2025-04 | $701,000 | 1,560 | 35.7% |
| 80 MAC ARTHUR AVE | 2025-11 | $750,000 | 1,956 | 43.3% |
| 14 JAMES CT | 2026-01 | $835,000 | 1,972 | 39.9% |
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