The Fair Share Report
22 Keep St
Madison, NJ 07940
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 $985,411 – $1,407,598, 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 $1,259,378 home should be assessed near $758,397.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $255,597 below what the ratio math suggests (33.7%).
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
30%77%
Paying about right
This home's ratio lands inside Madison'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 |
|---|---|---|---|---|
| 152 CENTRAL AVE | 2025-10 | $1,350,000 | 1,936 | 44.1% |
| 108 GREENWOOD AVE | 2026-05 | $1,250,000 | 1,853 | 40.9% |
| 18 HILLCREST RD | 2026-01 | $1,375,000 | 1,856 | 56.8% |
| 24 LOANTAKA WAY | 2026-03 | $1,650,000 | 2,319 | 38.7% |
| 20 LOANTAKA WAY | 2025-04 | $1,450,000 | 2,282 | 46.3% |
| 53 HIGHLAND AVE | 2026-01 | $875,000 | 1,876 | 59.2% |
| 4 FAIRWOOD RD | 2026-02 | $875,000 | 2,184 | 73.8% |
| 333 WOODLAND RD | 2025-07 | $1,278,000 | 2,358 | 58.2% |
| 150 LOANTAKA WAY | 2025-07 | $1,085,000 | 1,937 | 54.9% |
| 3 ARDSLEIGH DR | 2025-11 | $1,105,000 | 2,121 | 47.0% |
| 7 DOGWOOD DR | 2025-10 | $1,999,999 | 2,308 | 55.4% |
| 5 LEE AVE | 2025-06 | $1,387,000 | 2,059 | 44.3% |
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