The Fair Share Report
162 Pheasant Dr
Berkeley, NJ 08721
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.
This home's payments are about right
It sits inside Berkeley's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $351,026 – $480,580, from 12 comparable Berkeley 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 Berkeley assessments sit below market value — republished every October, applied town-wide. A $400,366 home should be assessed near $211,994.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $17,006 above what the ratio math suggests (8.0%).
Step 4 · The tax rate — same for every Berkeley home
$1.213 Schools · 47% $0.582 County · 22% $0.795 Town · 31%
Step 5 · The bill
This home vs. every recent Berkeley sale · assessed ÷ market
30%71%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 6 GROUSE DR | 2025-04 | $472,500 | 1,464 | 53.4% |
| 20 SYLVAN LAKE BLVD | 2025-09 | $465,000 | 1,440 | 54.7% |
| 55 SOUTH AVE | 2025-08 | $525,000 | 1,404 | 44.4% |
| 21 DOCKAGE RD | 2025-08 | $370,000 | 1,496 | 62.6% |
| 1015 EDGEBROOK DR EAST | 2025-01 | $350,000 | 1,451 | 40.7% |
| 5 OXFORD DR | 2025-06 | $385,000 | 1,404 | 60.9% |
| 151 HUNTLEY AVE | 2025-10 | $375,000 | 1,590 | 38.1% |
| 20 JEANETTE ST | 2026-05 | $457,250 | 1,498 | 49.5% |
| 144 RED BANK AVE | 2025-09 | $285,000 | 1,316 | 70.8% |
| 61 BITTERN LN | 2025-12 | $370,000 | 1,464 | 56.0% |
| 54 KORMAN RD | 2025-04 | $415,000 | 1,503 | 51.9% |
| 40 DOCKAGE RD | 2025-12 | $370,000 | 1,260 | 57.5% |
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