The Fair Share Report
12 Mitchell Rd
Readington, NJ 08876
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 $767,024 – $935,546, from 12 comparable Readington 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 Readington assessments sit below market value — republished every October, applied town-wide. A $898,542 home should be assessed near $623,858.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $31,258 below what the ratio math suggests (5.0%).
Step 4 · The tax rate — same for every Readington home
$1.708 Schools · 61% $0.506 County · 18% $0.584 Town · 21%
Step 5 · The bill
This home vs. every recent Readington sale · assessed ÷ market
48%85%
Paying about right
This home's ratio lands inside Readington'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 |
|---|---|---|---|---|
| 1061 BARLEY SHEAF RD | 2025-06 | $787,500 | 3,156 | 62.7% |
| 41 CODDINGTON RD | 2026-01 | $625,000 | 2,830 | 79.8% |
| 19 FORTYSECOND ST | 2025-05 | $815,000 | 3,430 | 63.1% |
| 17 APPLE TREE RD | 2025-10 | $975,000 | 3,232 | 58.3% |
| 14 SHURTS RD | 2025-04 | $901,000 | 3,184 | 59.2% |
| 16 WITHERSPOON ST | 2025-05 | $999,990 | 3,073 | 55.0% |
| 531 LOCUST RD | 2025-06 | $590,000 | 2,766 | 80.1% |
| 3 HEIRLOOM RD | 2025-07 | $999,000 | 3,112 | 54.7% |
| 2 CONSTITUTION WAY | 2026-04 | $812,500 | 3,084 | 64.3% |
| 14 MONFORT LN | 2025-03 | $999,999 | 3,202 | 62.8% |
| 10 EAST DREAHOOK RD | 2025-11 | $875,000 | 3,063 | 74.7% |
| 14 CASPAR BERGER RD | 2025-10 | $920,000 | 3,150 | 68.4% |
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