The Fair Share Report
161 Ely Ave
Old Bridge, NJ 08879
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.
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Step 1 · Market value
Likely range $285,681 – $413,333, from 12 comparable Old Bridge sales in the past 18 months, at this home's 768 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Old Bridge assessments sit below market value — republished every October, applied town-wide. A $344,603 home should be assessed near $97,626.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $16,426 below what the ratio math suggests (16.8%).
Step 4 · The tax rate — same for every Old Bridge home
$3.800 Schools · 62% $1.156 County · 19% $1.138 Town · 19%
Step 5 · The bill
This home vs. every recent Old Bridge sale · assessed ÷ market
14%38%
Paying about right
This home's ratio lands inside Old Bridge'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 |
|---|---|---|---|---|
| 198 HILLCREST AVE | 2025-10 | $363,000 | 809 | 23.6% |
| 818 FOREST AVE | 2025-09 | $315,000 | 792 | 28.6% |
| 130 ELY AVE | 2025-01 | $390,000 | 684 | 23.9% |
| 166 FURMAN BLVD | 2026-06 | $385,000 | 1,035 | 26.9% |
| 45 JAMES AVE | 2025-05 | $445,500 | 728 | 25.7% |
| 90 VALLEY AVE | 2025-05 | $310,000 | 708 | 27.1% |
| 69 GEORGE AVE | 2025-10 | $225,000 | 701 | 42.3% |
| 737 PROSPECT AVE | 2026-01 | $432,000 | 869 | 21.6% |
| 940 GROVE AVE | 2025-01 | $393,000 | 578 | 18.6% |
| 363 OCEAN BLVD | 2026-01 | $465,000 | 864 | 20.3% |
| 363 OCEAN BLVD | 2025-07 | $360,000 | 864 | 26.2% |
| 631 FOREST AVE | 2025-01 | $412,000 | 768 | 25.4% |
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