The Fair Share Report
134 Spring St
Monroe, NJ 08831
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 $336,308 – $426,768, 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 $403,662 home should be assessed near $217,453.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $61,247 above what the ratio math suggests (28.2%).
Step 4 · The tax rate — same for every Monroe home
$1.535 Schools · 56% $0.608 County · 22% $0.596 Town · 22%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
22%88%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (61.95%) — roughly $1,678/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 81 E LINCOLN AVE | 2026-05 | $481,000 | 1,184 | 52.1% |
| 41 MORTON AVE | 2025-03 | $525,000 | 1,560 | 52.5% |
| 1060 MORNING GLORY DRIVE | 2025-09 | $441,100 | 1,514 | 54.0% |
| 1177 MORNING GLORY DRIVE | 2025-06 | $405,000 | 1,514 | 60.6% |
| 553N TILTON WAY | 2025-06 | $261,250 | 1,514 | 29.7% |
| 211A DOREMUS DRIVE | 2026-04 | $343,000 | 1,516 | 30.8% |
| 729B MOUNT VERNON ROAD | 2025-05 | $347,000 | 1,516 | 46.3% |
| 376D STIRLING DRIVE | 2026-05 | $369,000 | 1,502 | 24.1% |
| 180A MIMOSA PLAZA | 2025-07 | $395,000 | 1,499 | 26.6% |
| 42B CATALPA PLAZA | 2025-06 | $420,000 | 1,499 | 25.9% |
| 680A YARBOROUGH WAY SOUTH | 2025-01 | $339,000 | 1,499 | 42.1% |
| 339C QUINTON DRIVE | 2025-07 | $420,000 | 1,496 | 36.0% |
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