The Fair Share Report
22 E Ln
Madison, NJ 07940
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 Madison's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $1,566,112 – $2,121,919, from 12 comparable Madison 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 Madison assessments sit below market value — republished every October, applied town-wide. A $1,822,514 home should be assessed near $1,097,518.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $26,118 below what the ratio math suggests (2.4%).
Step 4 · The tax rate — same for every Madison home
$1.423 Schools · 63% $0.350 County · 16% $0.481 Town · 21%
Step 5 · The bill
This home vs. every recent Madison sale · assessed ÷ market
41%77%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 83 POMEROY RD | 2025-01 | $2,199,000 | 3,325 | 60.1% |
| 88 POMEROY RD | 2025-08 | $1,900,000 | 2,707 | 62.5% |
| 68 KNOLLWOOD AVE | 2026-05 | $1,800,027 | 2,690 | 39.3% |
| 13 SOUTH ST | 2025-10 | $950,000 | 2,980 | 48.9% |
| 17 WOODCLIFF DR | 2025-06 | $1,825,000 | 3,274 | 54.6% |
| 127 GREEN VILLAGE RD | 2026-06 | $1,782,500 | 2,830 | 46.8% |
| 127 GREEN VILLAGE RD | 2025-10 | $1,667,005 | 2,830 | 50.1% |
| 60 GREENWOOD AVE | 2026-03 | $1,400,000 | 2,690 | 42.4% |
| 7 DOGWOOD DR | 2025-10 | $1,999,999 | 2,308 | 55.4% |
| 36 KINNEY ST | 2025-05 | $1,250,000 | 3,689 | 43.0% |
| 175 GREEN VILLAGE RD | 2026-03 | $1,310,000 | 2,325 | 53.3% |
| 9 WESTERLY AVE | 2026-03 | $1,335,000 | 2,658 | 52.7% |
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