The Fair Share Report
2 Holmes Ct
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 $1,127,838 – $1,622,800, 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 $1,362,722 home should be assessed near $994,515.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $86,915 below what the ratio math suggests (8.7%).
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
50%89%
Paying about right
This home's ratio lands inside Morris'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 |
|---|---|---|---|---|
| 6 MAGNOLIA CT | 2025-08 | $1,420,000 | 3,446 | 72.1% |
| 11 WHEATSHEAF FARM RD | 2025-06 | $1,850,000 | 3,599 | 60.8% |
| 4 MILLSTONE CT | 2025-07 | $1,400,000 | 3,682 | 65.8% |
| 53 LAURA LN | 2025-03 | $1,475,000 | 3,106 | 62.7% |
| 25 GLIMPSEWOOD LN | 2024-12 | $1,400,000 | 3,570 | 65.7% |
| 62 KETCH RD | 2025-07 | $910,000 | 3,496 | 76.8% |
| 32 VALLEY VIEW ST WEST | 2025-12 | $999,999 | 3,292 | 72.6% |
| 5 DARNAY RD | 2026-04 | $1,150,000 | 3,078 | 65.7% |
| 18 WOODRUFF RD | 2025-10 | $1,800,000 | 3,856 | 56.6% |
| 5 COBBLESTONE LN | 2025-08 | $2,025,000 | 2,936 | 48.1% |
| 4 STRATFORD CT | 2025-03 | $2,200,000 | 4,014 | 57.3% |
| 103 WOODCREST DR | 2026-02 | $335,000 | — | 57.6% |
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