The Fair Share Report
159 Summit Ave
Middletown, NJ 07718
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 $644,167 – $940,893, from 12 comparable Middletown 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 Middletown assessments sit below market value — republished every October, applied town-wide. A $712,685 home should be assessed near $700,926.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $101,226 below what the ratio math suggests (14.4%).
Step 4 · The tax rate — same for every Middletown home
$0.990 Schools · 61% $0.195 County · 12% $0.429 Town · 27%
This home's own bill implies $1.464 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Middletown sale · assessed ÷ market
58%118%
Keep quiet and enjoy it
This home's assessment ratio sits below the Middletown 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 |
|---|---|---|---|---|
| 6 RUTLEDGE DR | 2025-02 | $731,000 | 1,565 | 101.4% |
| 43 MAIDA TERR | 2026-06 | $905,000 | 1,544 | 88.7% |
| 47 MAIDA TERR | 2025-05 | $860,000 | 1,544 | 93.7% |
| 37 STEPHENVILLE BLVD | 2025-01 | $650,000 | 1,544 | 107.0% |
| 79 LAKE SHORE DR | 2026-01 | $810,000 | 1,441 | 102.1% |
| 74 FISH HAWK DR | 2026-01 | $900,000 | 1,534 | 90.6% |
| 139 SUMMIT AVE | 2025-03 | $555,000 | 1,401 | 107.2% |
| 424 GLENMARY AVE | 2025-04 | $635,000 | 1,688 | 98.7% |
| 2 MIRIAM PL | 2025-01 | $715,000 | 1,550 | 99.9% |
| 12 FRANKLIN AVE | 2026-05 | $648,000 | 1,466 | 91.7% |
| 47 MCLEAN ST | 2026-05 | $870,000 | 1,464 | 73.5% |
| 68 LEEDSVILLE DR | 2026-05 | $1,035,000 | 1,552 | 91.0% |
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