The Fair Share Report
24 E Spring St
Somerville, NJ 08876
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 $421,000 – $645,000, from 12 comparable Somerville sales in the past 18 months.
Step 2 · The Director's Ratio
The state's official measure of how far Somerville assessments sit below market value — republished every October, applied town-wide. A $575,000 home should be assessed near $338,100.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $33,900 below what the ratio math suggests (10.0%).
Step 4 · The tax rate — same for every Somerville home
$2.388 Schools · 59% $0.552 County · 14% $1.138 Town · 28%
Step 5 · The bill
This home vs. every recent Somerville sale · assessed ÷ market
34%78%
Paying about right
This home's ratio lands inside Somerville'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 |
|---|---|---|---|---|
| 11 HAYNES ST | 2025-07 | $480,200 | 1,040 | 44.9% |
| 276 N BRIDGE ST | 2026-01 | $575,000 | 1,889 | 49.8% |
| 147 E SPRING ST | 2025-03 | $605,000 | 1,568 | 43.6% |
| 18 S CLARK AVE | 2025-09 | $421,000 | 1,411 | 48.8% |
| 126 N RICHARDS AVE | 2026-01 | $375,000 | 1,008 | 67.0% |
| 75 N AUTEN AVE | 2026-06 | $709,500 | 1,575 | 40.5% |
| 5 HAYNES ST | 2025-02 | $651,000 | 1,861 | 51.0% |
| 102 VANDERVEER AVE. | 2025-05 | $601,000 | 1,180 | 43.2% |
| 110 VANDERVEER AVE. | 2025-03 | $555,000 | 1,784 | 50.9% |
| 22 E BROWN ST | 2026-05 | $645,000 | 1,497 | 45.8% |
| 109 N AUTEN AVE | 2025-07 | $505,000 | 1,152 | 51.0% |
| 273 N BRIDGE ST | 2026-04 | $535,000 | 1,305 | 52.7% |
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