The Fair Share Report
24 Demarest Ave
Demarest, NJ 07627
The town catches up with market prices only once a year — and only on average. This report checks whether this house's assessment kept pace.
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This home's payments are about right
It sits inside Demarest's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $1,098,288 – $1,505,073, from 12 comparable Demarest 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 Demarest assessments sit below market value — republished every October, applied town-wide. A $1,330,473 home should be assessed near $1,349,233.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $250,433 below what the ratio math suggests (18.6%).
Step 4 · The tax rate — same for every Demarest home
$1.149 Schools · 64% $0.219 County · 12% $0.438 Town · 24%
Step 5 · The bill
This home vs. every recent Demarest sale · assessed ÷ market
68%115%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 72 HIGHLAND AVE | 2025-04 | $1,300,000 | 2,389 | 77.2% |
| 88 WOODLAND RD | 2025-07 | $1,825,000 | 2,508 | 76.7% |
| 29 JOHN ST | 2025-06 | $1,200,000 | 2,612 | 83.2% |
| 123 LENOX AVE | 2025-07 | $1,090,000 | 2,417 | 83.3% |
| 91 STEWART ST | 2026-01 | $1,250,000 | 2,678 | 84.1% |
| 45 DEMAREST AVE | 2025-10 | $1,210,000 | 2,520 | 84.9% |
| 98 PRESCOTT ST | 2025-12 | $1,385,000 | 2,051 | 71.2% |
| 16 POPLAR RD | 2025-05 | $1,200,000 | 2,058 | 92.6% |
| 9 HERITAGE CT | 2025-01 | $1,598,000 | 2,225 | 76.5% |
| 67 CENTRAL AVE | 2025-07 | $1,480,000 | 2,457 | 73.0% |
| 85 LAKE RD | 2025-02 | $1,200,000 | 2,321 | 85.7% |
| 32 HIGHLAND AVE | 2025-12 | $999,999 | 1,903 | 88.8% |
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