The Fair Share Report
128 Mt Rascal Rd
Independence, NJ 07840
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 Independence's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $359,778 – $514,877, from 12 comparable Independence 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 Independence assessments sit below market value — republished every October, applied town-wide. A $392,198 home should be assessed near $232,299.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $4,799 below what the ratio math suggests (2.1%).
Step 4 · The tax rate — same for every Independence home
$2.295 Schools · 60% $0.873 County · 23% $0.627 Town · 17%
Step 5 · The bill
This home vs. every recent Independence sale · assessed ÷ market
36%74%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 3 ROLLING VIEW DR | 2025-07 | $480,000 | 1,809 | 47.8% |
| 88 OVERLOOK DR | 2025-10 | $390,500 | 1,840 | 46.8% |
| 73 OVERLOOK DR | 2025-10 | $335,000 | 1,770 | 50.6% |
| 60 OVERLOOK DR | 2025-07 | $350,000 | 1,770 | 49.7% |
| 22 BARKERS MILL RD | 2025-11 | $560,000 | 1,633 | 44.2% |
| 14 ENDICOTT DR | 2025-06 | $625,000 | 2,142 | 45.0% |
| 942 ROUTE 517 | 2025-12 | $420,000 | 1,992 | 54.0% |
| 10 ROLLING VIEW DR | 2025-06 | $435,000 | 2,202 | 50.5% |
| 185 PETERSBURG RD | 2025-07 | $445,000 | 2,080 | 50.1% |
| 20 HIGHLAND RD | 2025-12 | $625,000 | 2,334 | 43.7% |
| 54 WATER ST | 2026-01 | $555,000 | 2,196 | 47.2% |
| 121 ROUTE 46 | 2025-06 | $400,000 | 1,973 | 59.0% |
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