The Fair Share Report
229 New Jersey Ave
Downe, NJ 08321
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 $140,000 – $295,000, from 6 comparable Downe sales in the past 18 months.
Step 2 · The Director's Ratio
The state's official measure of how far Downe assessments sit below market value — republished every October, applied town-wide. A $180,000 home should be assessed near $141,120.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $26,120 below what the ratio math suggests (18.5%).
Step 4 · The tax rate — same for every Downe home
$1.454 Schools · 50% $1.070 County · 37% $0.407 Town · 14%
Step 5 · The bill
This home vs. every recent Downe sale · assessed ÷ market
31%107%
Paying about right
This home's ratio lands inside Downe'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 |
|---|---|---|---|---|
| 115 DELAWARE AVE | 2025-07 | $140,000 | — | 100.0% |
| 208 PENNSYLVANIA AVE | 2025-05 | $180,000 | — | 82.8% |
| 250 COVE RD | 2025-02 | $295,000 | 1,260 | 101.5% |
| 293 COVE RD | 2025-06 | $230,000 | 505 | 61.4% |
| 98 DELAWARE AVE | 2026-05 | $475,000 | — | 32.8% |
| 227 NEW JERSEY AVE | 2025-06 | $175,000 | — | 67.3% |
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