The Fair Share Report
15 Pine Ave
Madison, NJ 07940
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 $1,261,869 – $1,626,221, from 12 comparable Madison 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 Madison assessments sit below market value — republished every October, applied town-wide. A $1,305,796 home should be assessed near $786,350.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $155,850 below what the ratio math suggests (19.8%).
Step 4 · The tax rate — same for every Madison home
$1.423 Schools · 63% $0.350 County · 16% $0.481 Town · 21%
Step 5 · The bill
This home vs. every recent Madison sale · assessed ÷ market
33%77%
Keep quiet and enjoy it
This home's assessment ratio sits below the Madison pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 7 DOGWOOD DR | 2025-10 | $1,999,999 | 2,308 | 55.4% |
| 38 PINE AVE | 2025-05 | $1,312,580 | 2,292 | 53.8% |
| 24 LOANTAKA WAY | 2026-03 | $1,650,000 | 2,319 | 38.7% |
| 20 LOANTAKA WAY | 2025-04 | $1,450,000 | 2,282 | 46.3% |
| 175 GREEN VILLAGE RD | 2026-03 | $1,310,000 | 2,325 | 53.3% |
| 17 OVERHILL DR | 2026-02 | $805,000 | 2,168 | 61.3% |
| 3 ARDSLEIGH DR | 2025-11 | $1,105,000 | 2,121 | 47.0% |
| 152 CENTRAL AVE | 2025-10 | $1,350,000 | 1,936 | 44.1% |
| 60 WEST LN | 2026-03 | $1,300,000 | 2,243 | 61.6% |
| 333 WOODLAND RD | 2025-07 | $1,278,000 | 2,358 | 58.2% |
| 20 CRESTVIEW AVE | 2025-05 | $1,331,000 | 2,213 | 52.0% |
| 152 LOANTAKA WAY | 2025-05 | $1,175,000 | 2,430 | 54.0% |
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