The Fair Share Report
15 Codington Pl
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 $432,167 – $607,760, from 12 comparable Somerville sales in the past 18 months, at this home's 1,427 sq ft.
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 $517,726 home should be assessed near $304,423.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $24,623 below what the ratio math suggests (8.1%).
Step 4 · The tax rate — same for every Somerville home
$2.388 Schools · 59% $0.552 County · 14% $1.138 Town · 28%
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 |
|---|---|---|---|---|
| 25 W SPRING ST | 2025-10 | $615,000 | 1,444 | 42.6% |
| 361 WILLIAM ST | 2025-12 | $517,000 | 1,425 | 47.0% |
| 42 EASTERN AVE | 2025-04 | $675,000 | 1,344 | 42.7% |
| 202 N BRIDGE ST | 2026-06 | $640,000 | 1,342 | 39.7% |
| 224 E CLIFF ST | 2025-10 | $509,000 | 1,352 | 54.5% |
| 22 E BROWN ST | 2026-05 | $645,000 | 1,497 | 45.8% |
| 175 S BRIDGE ST | 2025-09 | $510,000 | 1,684 | 47.6% |
| 32 THIRD ST | 2026-05 | $340,000 | 1,456 | 59.4% |
| 27 SECOND ST | 2026-03 | $380,000 | 1,380 | 49.9% |
| 71 CENTRAL AVE | 2026-01 | $525,000 | 1,488 | 47.2% |
| 44 MECHANIC ST | 2026-02 | $500,000 | 1,812 | 53.3% |
| 25 CENTRAL AVE | 2025-07 | $480,000 | 1,561 | 40.1% |
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