The Fair Share Report
120 Rt 68
Springfield, NJ 08562
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 Springfield's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $728,762 – $921,036, from 7 comparable Springfield sales in the past 18 months, at this home's 3,410 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Springfield assessments sit below market value — republished every October, applied town-wide. A $867,211 home should be assessed near $498,820.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $74,920 below what the ratio math suggests (15.0%).
Step 4 · The tax rate — same for every Springfield home
$1.943 Schools · 58% $0.554 County · 16% $0.874 Town · 26%
Step 5 · The bill
This home vs. every recent Springfield sale · assessed ÷ market
33%96%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 1284 OLD YORK ROAD | 2025-10 | $720,000 | 3,369 | 48.5% |
| 2582 MONMOUTH ROAD | 2025-09 | $850,000 | 3,147 | 44.6% |
| 113 PADDOCK DRIVE | 2025-05 | $899,000 | 3,535 | 53.1% |
| 332 JULIUSTOWN RD | 2025-09 | $662,500 | 2,270 | 43.2% |
| 137 WARNER ROAD | 2025-06 | $580,000 | 2,374 | 42.4% |
| 312 JULIUSTOWN RD | 2025-07 | $665,000 | 2,290 | 52.8% |
| 343 JULIUSTOWN RD | 2025-03 | $450,000 | 2,142 | 63.4% |
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