The Fair Share Report
174 Ely Ave
Franklin, NJ 08322
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 $373,662 – $489,080, from 12 comparable Franklin 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 Franklin assessments sit below market value — republished every October, applied town-wide. A $419,745 home should be assessed near $245,299.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $24,799 below what the ratio math suggests (10.1%).
Step 4 · The tax rate — same for every Franklin home
$2.153 Schools · 58% $0.732 County · 20% $0.856 Town · 23%
Step 5 · The bill
This home vs. every recent Franklin sale · assessed ÷ market
37%74%
Paying about right
This home's ratio lands inside Franklin'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 |
|---|---|---|---|---|
| 468 HERMAN DR | 2025-08 | $435,000 | 2,008 | 54.6% |
| 743 PENNSYLVANIA AVE | 2025-08 | $449,899 | 2,136 | 42.3% |
| 3348 MAIN RD | 2025-11 | $295,000 | 2,016 | 62.2% |
| 18 CRYSTA CT | 2026-05 | $525,000 | 2,132 | 47.0% |
| 205 LAKEVIEW AVE | 2025-04 | $335,000 | 1,862 | 49.8% |
| 393 FAWN RUN DR | 2025-06 | $530,000 | 2,248 | 44.3% |
| 393 FAWN RUN DR | 2025-04 | $335,000 | 2,248 | 70.1% |
| 196 STEPHANIE CT | 2025-06 | $565,000 | 2,290 | 42.6% |
| 70 JAIMI DR | 2025-01 | $360,000 | 1,920 | 50.8% |
| 308 OAK AVE | 2025-06 | $397,000 | 1,920 | 44.5% |
| 78 LACEY RAE DR | 2026-04 | $475,000 | 1,796 | 47.4% |
| 66 LAY DR | 2025-10 | $374,900 | 1,932 | 48.1% |
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