The Fair Share Report
120 Ely Rd
Boonton, NJ 07005
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 $835,291 – $986,968, from 12 comparable Boonton 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 Boonton assessments sit below market value — republished every October, applied town-wide. A $928,202 home should be assessed near $587,181.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $16,881 below what the ratio math suggests (2.9%).
Step 4 · The tax rate — same for every Boonton home
$2.167 Schools · 62% $0.355 County · 10% $0.955 Town · 27%
Step 5 · The bill
This home vs. every recent Boonton sale · assessed ÷ market
40%78%
Paying about right
This home's ratio lands inside Boonton'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 |
|---|---|---|---|---|
| 158 OVERLOOK AVE | 2025-02 | $742,000 | 2,428 | 61.7% |
| 151 KANOUSE ST | 2026-05 | $850,000 | 2,676 | 40.7% |
| 141 FAIRVIEW AVE | 2025-04 | $999,500 | 2,967 | 57.5% |
| 414 GREEN ST | 2025-11 | $685,000 | 2,408 | 50.7% |
| 701 BOONTON AVE | 2026-03 | $700,000 | 2,756 | 68.7% |
| 303 UNION ST | 2025-12 | $870,000 | 2,862 | 43.4% |
| 725 CORNELIA ST | 2026-01 | $965,000 | 2,960 | 58.6% |
| 911 CEDAR ST | 2025-10 | $630,000 | 2,720 | 50.8% |
| 209 LIBERTY ST | 2026-01 | $999,999 | 3,031 | 37.1% |
| 105 ELY RD | 2026-05 | $1,050,000 | 3,388 | 57.6% |
| 26 CHESTNUT ST | 2026-04 | $790,000 | 1,915 | 54.5% |
| 208 ROCKAWAY ST | 2025-09 | $765,000 | 2,955 | 66.0% |
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