The Fair Share Report
237 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 $256,000 – $273,000, from 5 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 $265,000 home should be assessed near $207,760.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $84,760 below what the ratio math suggests (40.8%).
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%
Keep quiet and enjoy it
This home's assessment ratio sits below the Downe pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 184 LANDING RD | 2025-12 | $256,000 | — | 53.4% |
| 234 MAIN ST | 2025-09 | $265,000 | — | 45.1% |
| 18 VASSAR AVE | 2026-02 | $273,000 | — | 50.8% |
| 212 NEW JERSEY AVE | 2026-03 | $345,000 | — | 57.5% |
| 21 VASSAR AVE | 2026-06 | $162,000 | — | 52.0% |
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