The Fair Share Report
16 First Ave
Monroe, NJ 08831
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 $278,603 – $581,716, from 12 comparable Monroe sales in the past 18 months, at this home's 1,392 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Monroe assessments sit below market value — republished every October, applied town-wide. A $544,654 home should be assessed near $293,405.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $23,105 below what the ratio math suggests (7.9%).
Step 4 · The tax rate — same for every Monroe home
$1.535 Schools · 56% $0.608 County · 22% $0.596 Town · 22%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
22%102%
Paying about right
This home's ratio lands inside Monroe'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 |
|---|---|---|---|---|
| 18 DRAKE AVENUE | 2025-11 | $540,000 | 1,392 | 50.4% |
| 45 TENTH AVENUE | 2026-02 | $580,000 | 1,416 | 51.7% |
| 3 NORWOOD AVENUE | 2025-04 | $580,000 | 1,412 | 52.7% |
| 108 APPLEGATE AVENUE | 2025-06 | $590,000 | 1,392 | 52.1% |
| 5 NORWOOD AVE | 2025-11 | $565,000 | 1,352 | 50.7% |
| 20 FIRST AVENUE | 2025-10 | $580,000 | 1,352 | 50.4% |
| 19 EVERGREEN TERRACE | 2025-06 | $565,000 | 1,352 | 50.6% |
| 35 DREXEL TERRACE | 2025-09 | $540,000 | 1,352 | 49.6% |
| 56 EVERGREEN TERRACE | 2026-04 | $565,000 | 1,444 | 47.2% |
| 217B MAYFLOWER WAY | 2026-05 | $279,000 | 1,374 | 24.1% |
| 228A MANCHESTER LANE | 2025-08 | $275,000 | 1,374 | 26.1% |
| 219A MANCHESTER LANE | 2025-02 | $240,000 | 1,374 | 28.3% |
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