The Fair Share Report
1228 Iris Ave
Monroe, NJ 08094
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 $287,721 – $463,308, from 12 comparable Monroe 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 Monroe assessments sit below market value — republished every October, applied town-wide. A $427,619 home should be assessed near $254,305.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $48,505 below what the ratio math suggests (19.1%).
Step 4 · The tax rate — same for every Monroe home
$2.028 Schools · 54% $0.694 County · 18% $1.046 Town · 28%
This home's own bill implies $3.648 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
39%77%
Paying about right
This home's ratio lands inside Monroe'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 |
|---|---|---|---|---|
| 714 CHATSFORD RD | 2025-11 | $470,000 | 2,024 | 49.1% |
| 832 ROSETREE DR | 2026-05 | $470,000 | 1,920 | 47.5% |
| 712 BRANDYWINE DR | 2025-09 | $310,000 | 2,054 | 48.3% |
| 998 HONEYSUCKLE RD | 2025-03 | $485,000 | 1,851 | 47.9% |
| 363 BRYN MAWR DR | 2025-07 | $452,250 | 1,890 | 54.5% |
| 505 MATISSE WAY | 2026-02 | $330,000 | 2,016 | 53.9% |
| 1101 LAFAYETTE ST | 2025-11 | $395,000 | 1,768 | 60.5% |
| 208 BRANDYWINE DR | 2026-05 | $315,000 | 2,142 | 50.9% |
| 404 BRANDYWINE DR | 2025-08 | $315,000 | 2,142 | 48.7% |
| 80 GRANDVIEW AVE | 2025-03 | $445,000 | 2,016 | 59.3% |
| 1406 EXPOSITION DR | 2026-01 | $325,000 | 2,016 | 55.5% |
| 272 RUSHFOIL DR | 2025-10 | $455,000 | 1,984 | 52.1% |
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