The Fair Share Report
17 Pine St E
Vernon, NJ 07422
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 $228,748 – $423,557, from 12 comparable Vernon 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 Vernon assessments sit below market value — republished every October, applied town-wide. A $239,969 home should be assessed near $220,627.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $76,473 above what the ratio math suggests (34.7%).
Step 4 · The tax rate — same for every Vernon home
$1.368 Schools · 58% $0.438 County · 19% $0.539 Town · 23%
Step 5 · The bill
This home vs. every recent Vernon sale · assessed ÷ market
65%135%
Paying about right
This home's ratio lands inside Vernon'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 |
|---|---|---|---|---|
| 106 LOUNSBERRY HOLLOW RD | 2025-01 | $417,000 | 1,284 | 87.6% |
| 30 LOUNSBERRY HOLLOW RD | 2025-11 | $410,000 | 1,190 | 79.2% |
| 16 VILLAGE WAY, UNIT 1 | 2025-03 | $230,000 | 1,268 | 85.7% |
| 23 PANORAMA DR | 2025-12 | $400,000 | 1,272 | 81.0% |
| 4 VILLAGE WAY, UNIT 6 | 2025-07 | $240,000 | 1,294 | 98.5% |
| 6 VILLAGE WAY, UNIT 6 | 2025-03 | $207,000 | 1,294 | 110.9% |
| 18 PEARY DR | 2026-05 | $340,000 | 1,172 | 93.3% |
| 1 SHEBA DR | 2025-06 | $435,000 | 1,144 | 85.4% |
| 16 VILLAGE WAY, UNIT 5 | 2025-09 | $220,000 | 1,318 | 84.0% |
| 1 DAVOS DR UNIT 1 | 2026-04 | $250,000 | 1,296 | 93.4% |
| 7 DEER VALLEY LN UNIT 7 | 2026-04 | $254,900 | 1,296 | 91.8% |
| 4 DAVOS DR UNIT 7 | 2025-11 | $299,900 | 1,296 | 74.2% |
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