The Fair Share Report
15 Ely Rd
Holmdel, NJ 07733
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 (100.00%) — roughly $2,002/yr at stake. NJ appeals are generally due April 1.
Step 1 · Market value
Likely range $750,173 – $882,547, from 12 comparable Holmdel 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 Holmdel assessments sit below market value — republished every October, applied town-wide. A $778,532 home should be assessed near $776,508.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $130,192 above what the ratio math suggests (16.8%).
Step 4 · The tax rate — same for every Holmdel home
$1.063 Schools · 69% $0.207 County · 13% $0.268 Town · 17%
This home's own bill implies $1.404 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Holmdel sale · assessed ÷ market
84%126%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 1 GALES CT | 2025-04 | $854,000 | 2,116 | 97.0% |
| 8 OVERLOOK DRIVE | 2025-04 | $860,000 | 2,330 | 103.3% |
| 11 MOUNT DRIVE | 2026-06 | $1,200,000 | 2,304 | 89.7% |
| 4 ROSEDALE TER | 2026-06 | $875,000 | 2,316 | 100.6% |
| 8 DONNER ST | 2025-05 | $850,000 | 2,275 | 110.3% |
| 1 FLORA DR | 2026-03 | $980,000 | 1,858 | 89.6% |
| 6 DEERCREST DR | 2025-01 | $989,900 | 2,334 | 92.3% |
| 13 OLD MILL RD | 2025-01 | $825,000 | 2,166 | 119.2% |
| 6 STONEHENGE DR | 2025-04 | $820,000 | 2,412 | 103.9% |
| 6 FLORA DR | 2026-04 | $1,477,500 | 2,515 | 72.3% |
| 2 OVERLOOK DRIVE | 2025-05 | $810,000 | 2,580 | 107.1% |
| 4 PARKWAY PLACE EAST | 2026-01 | $960,000 | 2,469 | 101.2% |
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