The Fair Share Report
18 Walnut St
Morris, NJ 07960
The town catches up with market prices only once a year — and only based on the average change of all homes in the area. This report checks whether this house's assessment kept pace.
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Good news — this home pays less than its share
Its assessment sits low relative to what homes like it actually sell for. An appeal would only invite a fresh look at a number working in the owner's favor.
Step 1 · Market value
Likely range $671,360 – $788,406, from 12 comparable Morris sales in the past 18 months, at this home's 1,700 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Morris assessments sit below market value — republished every October, applied town-wide. A $726,857 home should be assessed near $530,460.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $226,160 below what the ratio math suggests (42.6%).
Step 4 · The tax rate — same for every Morris home
$1.147 Schools · 58% $0.303 County · 15% $0.517 Town · 26%
Step 5 · The bill
This home vs. every recent Morris sale · assessed ÷ market
33%89%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 33 COLONIAL DR | 2025-12 | $880,000 | 1,710 | 62.7% |
| 16 LIDGERWOOD PL | 2025-10 | $800,000 | 1,725 | 66.3% |
| 25 FLORENCE AVE | 2025-02 | $750,000 | 1,843 | 61.4% |
| 31 E HANOVER AVE | 2026-01 | $555,000 | 1,456 | 57.1% |
| 26 BROOKFIELD WAY | 2025-11 | $980,000 | 1,832 | 62.4% |
| 80 INDEPENDENCE WAY | 2026-02 | $817,500 | 1,912 | 59.8% |
| 3 GREEN KNOLLS RD | 2025-03 | $770,000 | 1,841 | 68.2% |
| 17 NORMANDY BLVD E | 2025-06 | $1,425,000 | 1,928 | 49.7% |
| 30 EDGEHILL AVE | 2025-03 | $790,000 | 1,976 | 63.2% |
| 12 STEWART DR | 2025-07 | $799,000 | 2,412 | 60.5% |
| 35 CONKLIN AVE | 2025-01 | $575,000 | 1,456 | 71.5% |
| 17 PILGRIM CT | 2025-06 | $750,000 | 1,712 | 67.2% |
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