The Fair Share Report
221 Progress St
Riverside, NJ 08075
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 Riverside's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $164,705 – $277,150, from 12 comparable Riverside 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 Riverside assessments sit below market value — republished every October, applied town-wide. A $225,208 home should be assessed near $129,067.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $54,067 below what the ratio math suggests (41.9%).
Step 4 · The tax rate — same for every Riverside home
$2.144 Schools · 52% $0.554 County · 14% $1.392 Town · 34%
This home's own bill implies $3.916 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Riverside sale · assessed ÷ market
22%81%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 637 JEFFERSON ST | 2025-05 | $252,500 | 830 | 48.8% |
| 229 FILMORE ST | 2025-12 | $260,000 | 800 | 45.4% |
| 206 W WASHINGTON ST | 2025-02 | $230,000 | 864 | 45.5% |
| 404 FIFTH ST | 2026-02 | $200,000 | 965 | 75.3% |
| 127 CLEVELAND AVE | 2025-08 | $260,000 | 1,239 | 52.3% |
| 211 PAINE ST | 2025-08 | $190,000 | 1,090 | 73.4% |
| 409 LIPPINCOTT AVE | 2026-04 | $300,000 | 1,008 | 45.3% |
| 510 ARNDT AVE | 2025-07 | $330,000 | 1,049 | 55.3% |
| 14 GRANT ST | 2025-01 | $245,900 | 704 | 42.7% |
| 327 WHITTAKER ST | 2026-02 | $245,000 | 1,206 | 54.9% |
| 36 LEE ST | 2025-05 | $210,000 | 924 | 40.9% |
| 516 RIVER DRIVE | 2025-06 | $320,000 | 1,092 | 48.3% |
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