The Fair Share Report
2003 Appleton Way
Hanover, NJ 07054
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 $617,021 – $698,398, from 12 comparable Hanover 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 Hanover assessments sit below market value — republished every October, applied town-wide. A $627,476 home should be assessed near $435,406.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $95,906 below what the ratio math suggests (22.0%).
Step 4 · The tax rate — same for every Hanover home
$1.207 Schools · 59% $0.314 County · 15% $0.529 Town · 26%
Step 5 · The bill
This home vs. every recent Hanover sale · assessed ÷ market
41%85%
Paying about right
This home's ratio lands inside Hanover'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 |
|---|---|---|---|---|
| 114 SUNRISE DR | 2026-05 | $570,000 | 1,708 | 60.0% |
| 92 SUNRISE DR | 2025-12 | $549,999 | 1,708 | 61.9% |
| 149 SUNRISE DR | 2025-10 | $567,500 | 1,708 | 59.8% |
| 66 SUNRISE DR | 2025-09 | $595,000 | 1,708 | 57.9% |
| 2804 CORTLAND LN | 2025-07 | $435,000 | 1,598 | 85.0% |
| 804 APPLETON WAY | 2025-07 | $620,000 | 1,598 | 58.4% |
| 49 SUNRISE DR | 2026-04 | $561,000 | 1,520 | 65.1% |
| 131 SUNRISE DR | 2026-02 | $645,000 | 1,520 | 55.7% |
| 502 WATERVIEW CT | 2025-12 | $645,000 | 1,914 | 56.6% |
| 302 WATERVIEW CT | 2025-11 | $640,000 | 1,914 | 57.0% |
| 231 VISTA DR | 2026-04 | $537,000 | 1,410 | 50.6% |
| 241 VISTA DR | 2026-02 | $470,000 | 1,410 | 57.0% |
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