The Fair Share Report
12 Walnut St
Salem, NJ 08080
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 $62,995 – $188,188, from 12 comparable Salem 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 Salem assessments sit below market value — republished every October, applied town-wide. A $160,264 home should be assessed near $79,844.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $18,144 below what the ratio math suggests (22.7%).
Step 4 · The tax rate — same for every Salem home
$2.297 Schools · 27% $2.023 County · 23% $4.308 Town · 50%
Step 5 · The bill
This home vs. every recent Salem sale · assessed ÷ market
19%103%
Paying about right
This home's ratio lands inside Salem'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 |
|---|---|---|---|---|
| 31 UNION ST | 2025-07 | $200,000 | — | 19.7% |
| 49-51 ELM ST | 2026-03 | $230,000 | 2,512 | 24.8% |
| 349 E BROADWAY | 2025-03 | $65,000 | 2,348 | 76.9% |
| 339-341 E BROADWAY | 2025-02 | $130,000 | 2,289 | 35.5% |
| 297 PEARL ST | 2025-09 | $212,500 | 2,444 | 23.1% |
| 217-219 CHURCH ST | 2025-07 | $177,500 | 2,256 | 27.8% |
| 153 SEVENTH ST | 2025-04 | $130,000 | 2,341 | 18.2% |
| 217-219 CHURCH ST | 2025-08 | $196,100 | 2,256 | 31.6% |
| 194 SEVENTH ST | 2025-10 | $73,322 | 2,151 | 88.8% |
| 204-206 WESLEY ST | 2025-07 | $180,000 | 2,572 | 29.9% |
| 91 SEVENTH ST | 2025-02 | $142,000 | 1,809 | 30.9% |
| 236 CHURCH ST | 2025-01 | $50,000 | 2,394 | 38.6% |
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