The Fair Share Report
123 Danforth Ave
Paterson, NJ 07501
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 $450,000 – $710,000, from 12 comparable Paterson 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 Paterson assessments sit below market value — republished every October, applied town-wide. A $500,000 home should be assessed near $207,050.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $243,250 above what the ratio math suggests (117.5%).
Step 4 · The tax rate — same for every Paterson home
$1.307 Schools · 24% $1.048 County · 20% $2.980 Town · 56%
This home's own bill implies $2.339 per $100 — well off the general rate. That usually means the town revalued since the last bill.
Step 5 · The bill
This home vs. every recent Paterson sale · assessed ÷ market
58%114%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (47.62%) — roughly $12,975/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 98 DUNDEE AVE | 2026-01 | $400,000 | — | 91.0% |
| 39-43 COLUMBIA AVE | 2026-01 | $750,000 | — | 78.3% |
| 44 CEDAR ST | 2025-06 | $387,000 | — | 98.8% |
| 521 SUMMER ST | 2025-06 | $427,000 | — | 77.3% |
| 688-690 E 31ST ST | 2025-05 | $645,000 | — | 100.5% |
| 383 STRAIGHT ST | 2025-05 | $560,000 | — | 61.0% |
| 484-486 E 18TH ST | 2025-05 | $450,000 | — | 83.7% |
| 62 ALBION AVE | 2025-05 | $500,000 | — | 88.0% |
| 435 TOTOWA AVE | 2025-05 | $470,000 | — | 89.9% |
| 293-295 CROOKS AVE | 2025-05 | $495,000 | — | 119.0% |
| 472-474 E 26TH ST | 2025-05 | $640,000 | — | 87.2% |
| 326-328 BUFFALO AVE | 2025-04 | $545,000 | — | 83.1% |
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