The Fair Share Report
2003 Mcdowell Rd
Monroe, NJ 08831
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 $674,270 – $764,922, from 12 comparable Monroe 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 Monroe assessments sit below market value — republished every October, applied town-wide. A $753,406 home should be assessed near $405,860.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $10,260 below what the ratio math suggests (2.5%).
Step 4 · The tax rate — same for every Monroe home
$1.535 Schools · 56% $0.608 County · 22% $0.596 Town · 22%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
22%67%
Paying about right
This home's ratio lands inside Monroe'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 |
|---|---|---|---|---|
| 43 STARLIGHT DRIVE | 2025-06 | $625,000 | 1,960 | 62.5% |
| 11 GALERIE COURT | 2025-11 | $740,000 | 1,960 | 52.7% |
| 7 FILLMORE DRIVE | 2025-03 | $675,000 | 1,859 | 57.1% |
| 55 LONGWOOD DRIVE | 2026-04 | $729,000 | 1,859 | 52.9% |
| 69 STARLIGHT DRIVE | 2025-08 | $655,000 | 1,859 | 58.9% |
| 3 INTER LACHEN COURT | 2026-05 | $794,500 | 2,009 | 53.0% |
| 36 METRO DRIVE | 2026-06 | $655,000 | 1,859 | 58.2% |
| 50 METRO DRIVE | 2025-09 | $615,000 | 1,859 | 62.7% |
| 15 GALERIE COURT | 2025-09 | $729,990 | 1,859 | 52.8% |
| 21 INDEPENDENCE DRIVE | 2025-03 | $710,000 | 1,832 | 51.0% |
| 460 MORNING GLORY DRIVE | 2025-11 | $810,000 | 2,013 | 50.7% |
| 130 MASTERS DRIVE | 2025-08 | $750,000 | 1,948 | 47.3% |
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