The Fair Share Report
22 Ave E
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 $460,666 – $565,504, from 12 comparable Monroe sales in the past 18 months, at this home's 1,796 sq ft.
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 $494,294 home should be assessed near $266,276.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $137,124 above what the ratio math suggests (51.5%).
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%93%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (61.95%) — roughly $3,757/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 17 LANDMARK ROAD | 2025-08 | $737,500 | 1,804 | 50.9% |
| 21 INDEPENDENCE DRIVE | 2025-03 | $710,000 | 1,832 | 51.0% |
| 147 RYAN COURT | 2025-09 | $535,000 | 1,775 | 46.1% |
| 12 WELLINGTON PLACE | 2026-04 | $475,000 | 1,833 | 43.6% |
| 247 SPRINGMEADOW WAY | 2025-06 | $525,000 | 1,775 | 45.9% |
| 27 CHANDLER COURT | 2026-05 | $502,000 | 1,824 | 41.4% |
| 17 SEVERN WAY | 2025-08 | $500,000 | 1,840 | 41.0% |
| 223 VALENCIA DRIVE | 2025-01 | $635,000 | 1,916 | 49.9% |
| 40 CHICHESTER ROAD | 2025-04 | $469,900 | 1,832 | 46.1% |
| 4 WELLINGTON PLACE | 2026-05 | $540,000 | 1,715 | 35.5% |
| 6 SEVERN WAY | 2025-03 | $450,000 | 1,824 | 45.6% |
| 442 BLUEBIRD DRIVE | 2026-06 | $410,000 | 1,768 | 47.1% |
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