The Fair Share Report
2 John Ave
Madison, NJ 07940
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 $711,318 – $1,041,235, from 12 comparable Madison 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 Madison assessments sit below market value — republished every October, applied town-wide. A $783,482 home should be assessed near $471,813.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $28,613 below what the ratio math suggests (6.1%).
Step 4 · The tax rate — same for every Madison home
$1.423 Schools · 63% $0.350 County · 16% $0.481 Town · 21%
Step 5 · The bill
This home vs. every recent Madison sale · assessed ÷ market
37%77%
Paying about right
This home's ratio lands inside Madison'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 |
|---|---|---|---|---|
| 25 STATION RD | 2025-08 | $900,000 | 1,492 | 60.9% |
| 210 CENTRAL AVE | 2026-01 | $775,000 | 1,612 | 63.9% |
| 8 PINE TREE TER | 2025-06 | $735,000 | 1,651 | 71.4% |
| 29 PINE AVE | 2025-01 | $812,500 | 1,624 | 63.3% |
| 59 ALBRIGHT CIR | 2025-12 | $675,000 | 1,552 | 81.1% |
| 63 SAMSON AVE | 2026-05 | $1,110,000 | 1,448 | 49.0% |
| 55 VALLEY RD | 2025-05 | $1,110,000 | 1,718 | 50.1% |
| 2 LEIGH DR | 2026-05 | $800,000 | 1,731 | 65.0% |
| 27 HOYT ST | 2025-03 | $881,000 | 1,384 | 52.5% |
| 8 LORRAINE RD | 2025-12 | $775,000 | 1,674 | 71.1% |
| 51 ALBRIGHT CIR | 2026-05 | $1,300,000 | 1,732 | 42.2% |
| 14 SAYRE CT | 2025-07 | $730,000 | 1,690 | 65.6% |
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