The Fair Share Report
226 E Second St
Bound Brook, NJ 08805
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 Bound Brook's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $320,335 – $421,006, from 12 comparable Bound Brook 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 Bound Brook assessments sit below market value — republished every October, applied town-wide. A $357,872 home should be assessed near $333,751.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $37,251 below what the ratio math suggests (11.2%).
Step 4 · The tax rate — same for every Bound Brook home
$1.107 Schools · 50% $0.345 County · 16% $0.753 Town · 34%
This home's own bill implies $2.120 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Bound Brook sale · assessed ÷ market
65%111%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 283 WEST MAIN STREET | 2025-02 | $293,000 | 1,204 | 94.9% |
| 529 EAST SECOND STREET | 2025-04 | $410,000 | 1,440 | 96.5% |
| 112 EAST STREET | 2026-03 | $465,000 | 1,128 | 77.8% |
| 162 LINDEN AVENUE | 2026-03 | $379,900 | 1,250 | 101.2% |
| 110 JOHN STREET | 2025-06 | $490,000 | 1,392 | 101.6% |
| 160 LINDEN AVENUE | 2025-05 | $450,000 | 1,340 | 87.8% |
| 44 ROMNEY ROAD | 2025-03 | $300,000 | 1,040 | 109.4% |
| 687 CRESCENT DRIVE | 2026-03 | $350,000 | 992 | 94.4% |
| 652 CRESCENT DRIVE | 2025-01 | $285,000 | 1,048 | 114.2% |
| 615 THOMPSON AVENUE | 2025-04 | $330,000 | 928 | 93.6% |
| 641 CRESCENT DRIVE | 2026-01 | $325,000 | 1,048 | 105.4% |
| 513 GROVE AVENUE | 2025-05 | $450,000 | 1,233 | 94.0% |
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