The Fair Share Report
207 Nelson Dr
Monroe, NJ 08094
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
This home's payments are about right
It sits inside Monroe's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $330,536 – $410,913, 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 $380,269 home should be assessed near $226,146.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $34,246 below what the ratio math suggests (15.1%).
Step 4 · The tax rate — same for every Monroe home
$2.028 Schools · 54% $0.694 County · 18% $1.046 Town · 28%
This home's own bill implies $3.639 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
39%74%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 150 HILBERT ST | 2025-04 | $340,000 | 1,818 | 55.5% |
| 30 TOOL LN | 2026-02 | $345,000 | 1,844 | 51.6% |
| 1741 LAKESIDE DR | 2025-10 | $405,000 | 1,801 | 50.7% |
| 1741 LAKESIDE DR | 2025-04 | $245,000 | 1,801 | 83.8% |
| 101 PALMER CT | 2025-08 | $395,000 | 1,877 | 48.6% |
| 1713 RED OAK RD | 2025-07 | $410,000 | 1,877 | 51.1% |
| 1611 FOREST DR | 2025-05 | $350,000 | 1,732 | 45.5% |
| 1605 PIN OAK RD | 2026-01 | $399,000 | 1,900 | 43.5% |
| 1008 LONDON CIR | 2025-12 | $420,000 | 1,830 | 45.0% |
| 630 GREENBRIAR DR | 2025-08 | $410,000 | 1,728 | 42.4% |
| 229 IRELAND TER | 2026-04 | $385,000 | 1,638 | 46.3% |
| 610 WESTOVER CT | 2025-05 | $360,000 | 1,704 | 46.4% |
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