The Fair Share Report
136 E 3rd St
Ship Bottom, NJ 08550
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.
The numbers support an appeal
Even at the cautious end of the range, this home's ratio clears NJ's Chapter 123 line (61.05%) — roughly $6,650/yr at stake. NJ appeals are generally due April 1.
Step 1 · Market value
Likely range $1,318,977 – $2,001,648, from 12 comparable Ship Bottom 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 Ship Bottom assessments sit below market value — republished every October, applied town-wide. A $1,608,916 home should be assessed near $854,174.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $535,826 above what the ratio math suggests (62.7%).
Step 4 · The tax rate — same for every Ship Bottom home
$0.249 Schools · 20% $0.567 County · 46% $0.425 Town · 34%
Step 5 · The bill
This home vs. every recent Ship Bottom sale · assessed ÷ market
32%111%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 104 E 18TH ST | 2025-09 | $2,250,000 | 2,288 | 40.1% |
| 2101 CENTRAL AVE | 2025-03 | $1,450,000 | 2,304 | 42.1% |
| 357 W 10TH ST | 2025-10 | $1,550,000 | 2,131 | 40.6% |
| 126 E 13TH ST | 2025-07 | $2,350,000 | 1,920 | 44.1% |
| 276 W 13TH ST | 2025-03 | $1,140,000 | 2,016 | 48.6% |
| 250 W 18TH ST | 2025-02 | $1,301,850 | 1,726 | 41.1% |
| 108 W 22ND ST | 2026-04 | $1,575,000 | 2,184 | 45.9% |
| 334 W 5TH ST | 2025-03 | $1,325,000 | 2,124 | 40.8% |
| 109 W 26TH ST | 2025-12 | $2,169,000 | 2,500 | 42.9% |
| 305 W 18TH ST | 2025-06 | $1,775,000 | 2,163 | 52.3% |
| 242 W 14TH ST | 2025-10 | $1,200,000 | 2,024 | 46.2% |
| 329 W 5TH ST | 2026-03 | $1,820,000 | 2,436 | 42.6% |
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