The Fair Share Report
232 Chestnut St
Monroe, NJ 08094
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 $324,973 – $449,233, from 12 comparable Monroe 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 Monroe assessments sit below market value — republished every October, applied town-wide. A $418,676 home should be assessed near $248,987.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $48,687 below what the ratio math suggests (19.6%).
Step 4 · The tax rate — same for every Monroe home
$2.028 Schools · 54% $0.694 County · 18% $1.046 Town · 28%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
39%74%
Paying about right
This home's ratio lands inside Monroe'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 |
|---|---|---|---|---|
| 207 CHURCH ST | 2025-06 | $310,000 | 1,736 | 52.3% |
| 338 CLINTON AVE | 2025-02 | $343,000 | 1,464 | 49.6% |
| 346 N MAIN ST | 2025-03 | $415,000 | 2,304 | 49.7% |
| 109 POPLAR ST | 2026-02 | $330,000 | 1,496 | 51.8% |
| 109 POPLAR ST | 2025-01 | $245,000 | 1,496 | 69.7% |
| 1418 SEVENTH AVE | 2025-01 | $275,000 | 1,920 | 62.1% |
| 416 MADISON AVE | 2025-12 | $255,000 | 2,254 | 58.9% |
| 339 SCHOOLHOUSE RD | 2026-04 | $465,000 | 1,952 | 51.7% |
| 432 MADISON AVE | 2026-05 | $290,000 | 1,464 | 54.5% |
| 408 ABERDEEN RD | 2026-03 | $420,000 | 1,828 | 51.0% |
| 1818 HESSIAN DR | 2025-04 | $460,000 | 1,896 | 53.4% |
| 136 CORA AVE | 2025-12 | $380,000 | 1,934 | 49.8% |
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