The Fair Share Report
224 Third St
Gloucester, NJ 08033
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 $111,251 – $249,609, from 12 comparable Gloucester City 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 Gloucester City assessments sit below market value — republished every October, applied town-wide. A $216,652 home should be assessed near $123,058.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $22,058 below what the ratio math suggests (17.9%).
Step 4 · The tax rate — same for every Gloucester City home
$1.323 Schools · 25% $0.921 County · 17% $3.048 Town · 58%
Step 5 · The bill
This home vs. every recent Gloucester City sale · assessed ÷ market
26%96%
Paying about right
This home's ratio lands inside Gloucester City'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 |
|---|---|---|---|---|
| 224 N KING ST | 2025-09 | $120,000 | 1,642 | 60.1% |
| 837 MONMOUTH ST | 2025-03 | $245,000 | 1,599 | 40.6% |
| 424 HUNTER ST | 2026-04 | $236,000 | 1,550 | 34.5% |
| 31 S SUSSEX ST | 2025-08 | $130,000 | 1,422 | 54.6% |
| 31 S SUSSEX ST | 2025-07 | $110,000 | 1,422 | 64.5% |
| 12 S KING ST | 2025-02 | $225,000 | 1,538 | 38.2% |
| 702 MARKET ST | 2025-10 | $260,000 | 1,709 | 36.3% |
| 315 CUMBERLAND ST | 2025-09 | $265,000 | 1,728 | 32.9% |
| 215 MIDDLESEX ST | 2026-05 | $210,000 | 1,547 | 29.5% |
| 215 MIDDLESEX ST | 2024-12 | $97,000 | 1,547 | 63.8% |
| 528 PAUL ST | 2025-12 | $150,000 | 1,320 | 49.7% |
| 528 PAUL ST | 2025-07 | $110,000 | 1,320 | 67.8% |
Is this your house?
Run your own report →