The Fair Share Report
127 Garrison Ave
Downe, NJ 08321
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.
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Step 1 · Market value
Likely range $207,600 – $298,727, from 12 comparable Downe sales in the past 18 months, at this home's 890 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Downe assessments sit below market value — republished every October, applied town-wide. A $208,373 home should be assessed near $163,364.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $79,064 below what the ratio math suggests (48.4%).
Step 4 · The tax rate — same for every Downe home
$1.454 Schools · 50% $1.070 County · 37% $0.407 Town · 14%
Step 5 · The bill
This home vs. every recent Downe sale · assessed ÷ market
23%107%
Keep quiet and enjoy it
This home's assessment ratio sits below the Downe pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 97 GARRISON AVE | 2026-03 | $135,000 | — | 80.3% |
| 256 COVE RD | 2025-06 | $290,000 | 864 | 97.5% |
| 102 GARRISON AVE | 2026-04 | $164,500 | — | 74.6% |
| 21 VASSAR AVE | 2026-06 | $162,000 | — | 52.0% |
| 212 NEW JERSEY AVE | 2026-03 | $345,000 | — | 57.5% |
| 250 COVE RD | 2025-02 | $295,000 | 1,260 | 101.5% |
| 227 NEW JERSEY AVE | 2025-06 | $175,000 | — | 67.3% |
| 94 DELAWARE AVE | 2026-02 | $450,000 | — | 64.8% |
| 146 FORTESCUE RD | 2025-01 | $209,000 | 896 | 61.8% |
| 615 OLD BEAVER DAM RD | 2025-01 | $105,000 | 1,110 | 150.1% |
| 98 DELAWARE AVE | 2026-05 | $475,000 | — | 32.8% |
| 293 COVE RD | 2025-06 | $230,000 | 505 | 61.4% |
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