The Fair Share Report
2 Cory Rd Unit E
Morris, NJ 07960
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 $572,526 – $630,627, from 12 comparable Morris 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 Morris assessments sit below market value — republished every October, applied town-wide. A $601,293 home should be assessed near $438,824.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $220,424 below what the ratio math suggests (50.2%).
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
29%89%
Keep quiet and enjoy it
This home's assessment ratio sits below the Morris pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 24 BYRON AVE | 2025-02 | $600,000 | 1,392 | 70.3% |
| 5 SHELLEY PL | 2025-01 | $650,000 | 1,392 | 72.9% |
| 103 WOODCREST DR | 2026-02 | $335,000 | — | 57.6% |
| 63 VILLAGE DR | 2026-02 | $525,000 | 1,266 | 72.4% |
| 28 WILDFLOWER LN | 2026-02 | $500,000 | 1,387 | 78.4% |
| 19 CAROLINE FOSTER CT | 2025-08 | $575,000 | 1,387 | 70.7% |
| 4 INDEPENDENCE WAY | 2025-01 | $650,000 | 1,744 | 75.7% |
| 25 CADENCE CT | 2026-05 | $675,000 | 1,336 | 63.1% |
| 21 WITHERSPOON CT | 2025-05 | $560,000 | 1,332 | 63.4% |
| 17 PILGRIM CT | 2025-06 | $750,000 | 1,712 | 67.2% |
| 19 RAVEN DR | 2025-06 | $769,000 | 2,004 | 66.2% |
| 13 VILLAGE DR | 2025-06 | $470,000 | 1,083 | 70.5% |
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