The Fair Share Report
202 Raphael Ct
Monroe, NJ 08094
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 $260,297 – $345,098, 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 $273,911 home should be assessed near $162,895.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $13,395 below what the ratio math suggests (8.2%).
Step 4 · The tax rate — same for every Monroe home
$2.028 Schools · 54% $0.694 County · 18% $1.046 Town · 28%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
38%74%
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 |
|---|---|---|---|---|
| 206 RAPHAEL CT | 2026-03 | $245,000 | 1,418 | 61.5% |
| MAGNOLIA AVE | 2025-10 | $410,000 | 1,424 | 1.2% |
| 510 DEGAS CT | 2026-04 | $245,000 | 1,418 | 61.7% |
| 604 VAN GOGH CT | 2025-02 | $264,000 | 1,418 | 58.6% |
| 532 KEY WEST DR | 2025-10 | $340,000 | 1,464 | 48.7% |
| 515 ST KITTS DR | 2026-05 | $325,000 | 1,369 | 49.1% |
| 4 CORKERY LN | 2025-05 | $430,000 | 1,521 | 59.1% |
| 507 ST KITTS DR | 2026-01 | $327,000 | 1,464 | 51.2% |
| 507 ST KITTS DR | 2025-03 | $215,000 | 1,464 | 77.9% |
| 617 VAN GOGH CT | 2025-01 | $250,000 | 1,303 | 58.4% |
| 902 VAN GOGH CT | 2025-08 | $245,000 | 1,298 | 57.2% |
| 916 VAN GOGH CT | 2025-04 | $250,000 | 1,298 | 56.1% |
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