The Fair Share Report
2 W Rd
Millburn, NJ 07078
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 $2,199,169 – $2,975,841, from 12 comparable Millburn 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 Millburn assessments sit below market value — republished every October, applied town-wide. A $2,683,716 home should be assessed near $1,879,138.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $16,138 below what the ratio math suggests (0.9%).
Step 4 · The tax rate — same for every Millburn home
$1.033 Schools · 51% $0.453 County · 22% $0.532 Town · 26%
Step 5 · The bill
This home vs. every recent Millburn sale · assessed ÷ market
45%90%
Paying about right
This home's ratio lands inside Millburn'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 |
|---|---|---|---|---|
| 29 MARION AVENUE | 2025-08 | $1,950,000 | 4,171 | 82.7% |
| 11 SHERWOOD ROAD | 2025-07 | $2,720,000 | 4,273 | 71.0% |
| 59 WEST ROAD | 2025-11 | $1,999,000 | 3,787 | 66.8% |
| 22 JOANNA WAY | 2025-01 | $2,725,000 | 3,927 | 72.0% |
| 50 GROSVENOR ROAD | 2025-10 | $3,200,000 | 4,597 | 63.3% |
| 71 WEST ROAD | 2025-06 | $2,038,000 | 3,496 | 58.7% |
| 49 HILLTOP ROAD | 2026-06 | $2,825,000 | 4,050 | 58.5% |
| 2 OAKLAWN ROAD | 2025-07 | $2,408,750 | 4,449 | 72.2% |
| 23 MARION AVENUE | 2025-07 | $3,088,000 | 4,537 | 65.8% |
| 52 JEFFERSON AVENUE | 2025-12 | $2,150,000 | 4,559 | 78.3% |
| 9 EAST LANE | 2025-06 | $2,710,000 | 3,612 | 77.2% |
| 47 BARNSDALE ROAD | 2025-07 | $2,750,000 | 3,486 | 69.7% |
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