The Fair Share Report
1802 Springbrook Ct
Hanover, NJ 07981
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 $639,689 – $688,701, from 12 comparable Hanover 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 Hanover assessments sit below market value — republished every October, applied town-wide. A $656,473 home should be assessed near $455,527.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $100,227 below what the ratio math suggests (22.0%).
Step 4 · The tax rate — same for every Hanover home
$1.207 Schools · 59% $0.314 County · 15% $0.529 Town · 26%
Step 5 · The bill
This home vs. every recent Hanover sale · assessed ÷ market
41%85%
Paying about right
This home's ratio lands inside Hanover'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 |
|---|---|---|---|---|
| 1007 EDGEHILL TER | 2026-05 | $650,000 | 1,908 | 54.1% |
| 2003 VERMONT TER | 2026-01 | $660,000 | 1,908 | 54.7% |
| 304 BEAVERBROOK TER | 2025-12 | $636,000 | 1,908 | 54.2% |
| 1008 EDGEHILL TER | 2025-09 | $650,000 | 1,908 | 54.7% |
| 1607 NORTHCREST TER | 2025-07 | $552,500 | 1,908 | 64.3% |
| 1504 RIVEREDGE LN | 2025-06 | $598,000 | 1,908 | 58.6% |
| 1002 EDGEHILL TER | 2025-09 | $585,000 | 1,649 | 55.7% |
| 1501 RIVEREDGE LN | 2025-03 | $652,000 | 1,649 | 51.7% |
| 502 WATERVIEW CT | 2025-12 | $645,000 | 1,914 | 56.6% |
| 302 WATERVIEW CT | 2025-11 | $640,000 | 1,914 | 57.0% |
| 21 MANCHESTER DR | 2025-09 | $931,000 | 2,027 | 48.4% |
| 13 SPRUCE ST | 2025-11 | $717,000 | 2,052 | 57.2% |
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