The Fair Share Report
22 First St
Rumson, NJ 07760
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 Rumson's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $2,150,410 – $2,723,781, from 12 comparable Rumson 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 Rumson assessments sit below market value — republished every October, applied town-wide. A $2,441,320 home should be assessed near $2,360,756.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $501,556 below what the ratio math suggests (21.2%).
Step 4 · The tax rate — same for every Rumson home
$0.594 Schools · 57% $0.210 County · 20% $0.245 Town · 23%
This home's own bill implies $0.916 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Rumson sale · assessed ÷ market
63%116%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 12 FORREST AVE. | 2026-02 | $1,995,000 | 2,786 | 89.6% |
| 46 RIDGE RD. | 2025-02 | $1,575,000 | 3,558 | 111.1% |
| 42 FORREST AVE. | 2026-05 | $2,408,000 | 2,847 | 89.5% |
| 61 CENTER ST | 2026-04 | $2,410,000 | 3,155 | 107.2% |
| 26 BINGHAM COURT | 2026-04 | $2,500,000 | 2,970 | 113.0% |
| 7 BINGHAM COURT | 2025-03 | $3,156,709 | 2,970 | 95.2% |
| 3 BINGHAM COURT | 2025-03 | $2,700,000 | 2,970 | 100.9% |
| 22 BINGHAM COURT | 2025-03 | $2,593,000 | 2,970 | 101.2% |
| 33 PARK AVE. | 2026-03 | $2,800,000 | 3,198 | 81.7% |
| 10 BAY STREET | 2025-05 | $3,560,000 | 3,453 | 89.5% |
| 90 WASHINGTON ST. | 2026-04 | $2,457,000 | 3,103 | 86.7% |
| 84 WASHINGTON ST. | 2025-06 | $1,677,000 | 3,108 | 100.0% |
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