The Fair Share Report
17 Keep St
Madison, NJ 07940
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 $1,006,335 – $1,233,185, from 12 comparable Madison 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 Madison assessments sit below market value — republished every October, applied town-wide. A $1,099,895 home should be assessed near $662,357.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $145,257 below what the ratio math suggests (21.9%).
Step 4 · The tax rate — same for every Madison home
$1.423 Schools · 63% $0.350 County · 16% $0.481 Town · 21%
Step 5 · The bill
This home vs. every recent Madison sale · assessed ÷ market
36%77%
Paying about right
This home's ratio lands inside Madison'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 |
|---|---|---|---|---|
| 56 KNOLLWOOD AVE | 2026-06 | $1,450,000 | 2,062 | 42.1% |
| 1 SPRING GARDEN DR | 2025-07 | $1,150,000 | 1,993 | 40.2% |
| 21 STATION RD | 2025-11 | $650,000 | 1,836 | 79.7% |
| 23 WEST ST | 2026-01 | $799,000 | 2,020 | 49.9% |
| 27 LATHROP AVE | 2025-11 | $995,000 | 1,915 | 50.5% |
| 150 LOANTAKA WAY | 2025-07 | $1,085,000 | 1,937 | 54.9% |
| 20 STONEHEDGE LN | 2025-03 | $1,215,000 | 2,280 | 45.5% |
| 150 CENTRAL AVE | 2025-09 | $1,050,000 | 2,100 | 56.6% |
| 95 PARK AVE | 2025-06 | $650,000 | 2,065 | 55.3% |
| 18 HILLCREST RD | 2026-01 | $1,375,000 | 1,856 | 56.8% |
| 19 HIGHVIEW TER | 2026-04 | $1,310,000 | 2,286 | 58.3% |
| 6 VALLEY RD | 2025-04 | $1,225,000 | 1,864 | 49.9% |
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