The Fair Share Report
224 Alpha St
Alpha, NJ 08865
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.
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Step 1 · Market value
Likely range $280,868 – $453,213, from 12 comparable Alpha 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 Alpha assessments sit below market value — republished every October, applied town-wide. A $391,769 home should be assessed near $249,439.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $40,739 below what the ratio math suggests (16.3%).
Step 4 · The tax rate — same for every Alpha home
$1.754 Schools · 50% $0.758 County · 22% $0.973 Town · 28%
Step 5 · The bill
This home vs. every recent Alpha sale · assessed ÷ market
38%92%
Paying about right
This home's ratio lands inside Alpha'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 |
|---|---|---|---|---|
| 826 SIGSBEE AVENUE | 2026-04 | $355,000 | 1,811 | 53.6% |
| 201 THIRD AVENUE | 2026-05 | $225,000 | 1,828 | 88.3% |
| 1422 SPRINGTOWN ROAD | 2025-12 | $445,000 | 1,812 | 48.5% |
| 825 SAMPSON AVENUE | 2025-09 | $250,000 | 1,498 | 86.8% |
| 1140 EAST BOULEVARD | 2025-11 | $442,500 | 1,856 | 30.0% |
| 2 LYONS COURT | 2025-08 | $395,000 | 1,479 | 46.8% |
| 1027 THIRD AVENUE | 2025-07 | $150,000 | 1,536 | 115.9% |
| 785-795 HOBSON STREET | 2025-06 | $417,000 | 1,472 | 39.5% |
| 782 HIGH STREET | 2025-06 | $345,000 | 1,586 | 68.2% |
| 941 LEE AVENUE | 2026-03 | $330,000 | 1,960 | 62.9% |
| 925 LEE AVENUE | 2026-05 | $350,000 | 1,568 | 50.5% |
| 1115-1117 EAST BOULEVARD | 2025-08 | $330,000 | 2,523 | 68.1% |
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