The Fair Share Report
15A Leva Dr
Morris, NJ 07960
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.
Good news — this home pays less than its share
Its assessment sits low relative to what homes like it actually sell for. An appeal would only invite a fresh look at a number working in the owner's favor.
Step 1 · Market value
Likely range $488,103 – $561,062, from 12 comparable Morris 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 Morris assessments sit below market value — republished every October, applied town-wide. A $532,252 home should be assessed near $388,438.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $281,938 below what the ratio math suggests (72.6%).
Step 4 · The tax rate — same for every Morris home
$1.147 Schools · 58% $0.303 County · 15% $0.517 Town · 26%
Step 5 · The bill
This home vs. every recent Morris sale · assessed ÷ market
14%89%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 63 VILLAGE DR | 2026-02 | $525,000 | 1,266 | 72.4% |
| 103 WOODCREST DR | 2026-02 | $335,000 | — | 57.6% |
| 21 WITHERSPOON CT | 2025-05 | $560,000 | 1,332 | 63.4% |
| 13 VILLAGE DR | 2025-06 | $470,000 | 1,083 | 70.5% |
| VILLAGE DR COMMON AREA | 2025-03 | $475,000 | 1,083 | 65.2% |
| 15 VILLAGE DR | 2025-01 | $485,000 | 1,083 | 66.2% |
| 28 WILDFLOWER LN | 2026-02 | $500,000 | 1,387 | 78.4% |
| 19 CAROLINE FOSTER CT | 2025-08 | $575,000 | 1,387 | 70.7% |
| 24 BYRON AVE | 2025-02 | $600,000 | 1,392 | 70.3% |
| 5 SHELLEY PL | 2025-01 | $650,000 | 1,392 | 72.9% |
| 25 CADENCE CT | 2026-05 | $675,000 | 1,336 | 63.1% |
| 90 HANCOCK DR | 2025-08 | $595,000 | 1,700 | 63.1% |
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