The Fair Share Report
22 Second Ave
Cape May, NJ 08077
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 $1,181,133 – $1,686,370, from 12 comparable Cape May 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 Cape May assessments sit below market value — republished every October, applied town-wide. A $1,317,962 home should be assessed near $669,920.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $213,480 above what the ratio math suggests (31.9%).
Step 4 · The tax rate — same for every Cape May home
$0.347 Schools · 32% $0.384 County · 35% $0.361 Town · 33%
Step 5 · The bill
This home vs. every recent Cape May sale · assessed ÷ market
30%80%
A touch high — worth watching
This home's ratio sits above most of Cape May, but doesn't clear NJ's legal appeal line (58.45%).
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 1108 WEST ST | 2025-10 | $1,298,757 | 1,576 | 40.8% |
| 1305 MARYLAND AVE | 2025-01 | $1,475,000 | 1,525 | 48.3% |
| 1232 WASHINGTON ST | 2025-08 | $899,000 | 1,696 | 55.0% |
| 930 KEARNEY AVE | 2025-05 | $1,462,500 | 1,820 | 51.6% |
| 1126 WASHINGTON ST | 2025-06 | $1,400,000 | 1,160 | 33.7% |
| 1043 VIRGINIA AVE | 2025-05 | $1,560,000 | 1,462 | 35.3% |
| 1202 MARYLAND AVE | 2026-04 | $1,925,000 | 1,832 | 34.7% |
| 401 READING AVE | 2025-11 | $1,400,000 | 1,311 | 39.4% |
| 827 WASHINGTON ST #101 | 2026-03 | $1,495,000 | 1,523 | 39.1% |
| 936 LAFAYETTE ST | 2026-04 | $1,049,750 | 1,532 | 54.1% |
| 614 JEFFERSON ST | 2026-01 | $999,999 | 1,149 | 74.9% |
| 1252 LAFAYETTE ST | 2025-10 | $950,000 | 1,636 | 36.8% |
Is this your house?
Run your own report →