The Fair Share Report
18 Rustic Rd
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 $302,816 – $501,903, 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 $337,434 home should be assessed near $310,237.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $94,363 above what the ratio math suggests (30.4%).
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
68%139%
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 |
|---|---|---|---|---|
| 20 AUGUSTA DR UNIT 1 | 2025-12 | $290,000 | 1,820 | 100.0% |
| 8 SUNRISE DR UNIT 7 | 2025-11 | $290,000 | 1,820 | 99.1% |
| 12 AUGUSTA DR UNIT 1 | 2025-09 | $290,000 | 1,820 | 97.4% |
| 6 AUGUSTA DR UNIT 5 | 2025-04 | $327,000 | 1,820 | 82.8% |
| 1 POINT O'WOODS TER U 1 | 2025-04 | $330,000 | 1,820 | 86.7% |
| 1 HILTON HEAD DR UNIT 5 | 2025-05 | $330,000 | 1,988 | 89.7% |
| 10 WEST SHORE DR | 2025-07 | $460,000 | 1,956 | 81.1% |
| 3 SNOWMASS CT UNIT 1 | 2025-04 | $325,000 | 1,794 | 90.1% |
| 6 UPPER NOTCH RD | 2025-05 | $400,000 | 1,701 | 84.3% |
| 38 IVY PL | 2026-06 | $420,000 | 1,876 | 79.4% |
| 13 CHESTNUT ST | 2026-06 | $505,000 | 1,856 | 72.2% |
| 10 SANDBOX RD | 2025-02 | $469,900 | 1,784 | 82.0% |
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