The Fair Share Report
2 Kramer Ct
Ocean, NJ 07755
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 $795,084 – $925,708, from 12 comparable Ocean 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 Ocean assessments sit below market value — republished every October, applied town-wide. A $861,666 home should be assessed near $812,120.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $539,580 above what the ratio math suggests (66.4%).
Step 4 · The tax rate — same for every Ocean home
$0.801 Schools · 61% $0.224 County · 17% $0.295 Town · 22%
This home's own bill implies $1.242 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Ocean sale · assessed ÷ market
72%175%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (100.00%) — roughly $7,117/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 15 PHOENIX PKWY | 2026-01 | $925,000 | 2,337 | 95.8% |
| 11 OAK TREE LN | 2025-04 | $899,000 | 2,408 | 97.5% |
| 5 LANCASTER DR | 2025-02 | $822,000 | 2,292 | 94.3% |
| 1811 BELLMORE ST | 2026-03 | $875,000 | 2,229 | 97.8% |
| 1 DERBY LN | 2025-02 | $930,000 | 2,444 | 101.8% |
| 21 HIGH RIDGE RD | 2026-05 | $909,000 | 2,526 | 101.9% |
| 44 ASCOT DR | 2025-05 | $869,000 | 2,483 | 100.1% |
| 66 COLD INDIAN SPRING RD | 2026-02 | $740,000 | 2,432 | 98.3% |
| 53 HILLSIDE TERR | 2025-01 | $690,000 | 2,320 | 105.8% |
| 1 MICHAELS CT | 2026-06 | $1,792,500 | 2,378 | 70.9% |
| 11 ROLLING MEADOWS BLVD S | 2026-02 | $815,000 | 2,288 | 68.9% |
| 23 COLD INDIAN SPRING RD | 2025-03 | $750,000 | 2,370 | 99.0% |
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