The Fair Share Report
125 E Spring St
Somerville, NJ 08876
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 $480,200 – $605,000, from 12 comparable Somerville sales in the past 18 months.
Step 2 · The Director's Ratio
The state's official measure of how far Somerville assessments sit below market value — republished every October, applied town-wide. A $555,900 home should be assessed near $326,869.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $28,569 below what the ratio math suggests (8.7%).
Step 4 · The tax rate — same for every Somerville home
$2.388 Schools · 59% $0.552 County · 14% $1.138 Town · 28%
This home's own bill implies $3.995 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Somerville sale · assessed ÷ market
34%73%
Paying about right
This home's ratio lands inside Somerville'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 |
|---|---|---|---|---|
| 147 E SPRING ST | 2025-03 | $605,000 | 1,568 | 43.6% |
| 11 HAYNES ST | 2025-07 | $480,200 | 1,040 | 44.9% |
| 18 S CLARK AVE | 2025-09 | $421,000 | 1,411 | 48.8% |
| 276 N BRIDGE ST | 2026-01 | $575,000 | 1,889 | 49.8% |
| 75 N AUTEN AVE | 2026-06 | $709,500 | 1,575 | 40.5% |
| 102 VANDERVEER AVE. | 2025-05 | $601,000 | 1,180 | 43.2% |
| 110 VANDERVEER AVE. | 2025-03 | $555,000 | 1,784 | 50.9% |
| 95 SOUTHSIDE AVE | 2026-06 | $499,550 | 1,474 | 50.1% |
| 126 N RICHARDS AVE | 2026-01 | $375,000 | 1,008 | 67.0% |
| 5 HAYNES ST | 2025-02 | $651,000 | 1,861 | 51.0% |
| 68 MOUNTAIN AVE | 2025-07 | $550,000 | 2,605 | 61.7% |
| 53 SYCAMORE ST | 2025-09 | $600,000 | 1,751 | 52.6% |
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