The Fair Share Report
2 Spring Ln
Vernon, NJ 08844
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 $305,824 – $401,372, from 12 comparable Vernon 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 Vernon assessments sit below market value — republished every October, applied town-wide. A $342,987 home should be assessed near $315,342.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $97,342 below what the ratio math suggests (30.9%).
Step 4 · The tax rate — same for every Vernon home
$1.368 Schools · 58% $0.438 County · 19% $0.539 Town · 23%
Step 5 · The bill
This home vs. every recent Vernon sale · assessed ÷ market
49%107%
Keep quiet and enjoy it
This home's assessment ratio sits below the Vernon 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 |
|---|---|---|---|---|
| 11 KEWAUNEE RD | 2025-02 | $278,000 | 878 | 105.7% |
| 43 PADDOCK AVE | 2025-12 | $240,000 | 873 | 91.7% |
| 25 LAKESIDE DR | 2026-01 | $345,000 | 828 | 86.4% |
| 245 WISCASSET RD | 2025-12 | $390,000 | 869 | 90.8% |
| 2102 LAKESIDE DR W | 2025-12 | $437,500 | 768 | 96.9% |
| 110 BREAKNECK RD | 2026-03 | $301,400 | 732 | 79.8% |
| 112 GRANDVIEW RD | 2026-05 | $283,180 | 744 | 91.7% |
| 2014 LAKESIDE DR W | 2026-01 | $525,000 | 780 | 84.0% |
| 5 MARTIN LN | 2025-06 | $27,500 | — | 117.8% |
| 2109 LAKESIDE DR W | 2026-05 | $400,000 | 852 | 70.1% |
| 2109 LAKESIDE DR W | 2025-06 | $395,250 | 852 | 71.0% |
| 17 VALLEY VIEW ROAD | 2026-05 | $300,000 | 800 | 69.0% |
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