The Fair Share Report
25 Applegate St
Middletown, NJ 07701
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 $453,680 – $671,937, from 12 comparable Middletown 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 Middletown assessments sit below market value — republished every October, applied town-wide. A $507,865 home should be assessed near $499,485.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $209,115 above what the ratio math suggests (41.9%).
Step 4 · The tax rate — same for every Middletown home
$0.990 Schools · 61% $0.195 County · 12% $0.429 Town · 27%
This home's own bill implies $1.426 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Middletown sale · assessed ÷ market
81%162%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (100.00%) — roughly $3,375/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 36 IDEAL AVE | 2026-04 | $496,000 | 1,430 | 89.8% |
| 5 CEDAR AVE | 2025-04 | $390,000 | 1,400 | 109.4% |
| 39 IDEAL AVE | 2025-05 | $515,000 | 1,361 | 100.0% |
| 265 THOMPSON AVE | 2026-04 | $430,000 | 1,305 | 89.8% |
| 35 MONTANA AVE | 2026-01 | $430,000 | 1,294 | 117.8% |
| 312 NAVESINK AVE | 2026-03 | $680,000 | 1,289 | 82.1% |
| 52 MONMOUTH AVE | 2025-04 | $525,000 | 1,440 | 97.3% |
| 42 CARPENTER ST | 2025-03 | $800,000 | 1,494 | 100.4% |
| 56 OREGON AVE | 2026-05 | $545,000 | 1,442 | 106.0% |
| 197 CHURCH ST | 2025-06 | $540,000 | 1,168 | 100.0% |
| 40 FOSTER ST | 2026-04 | $860,000 | 1,200 | 86.9% |
| 47-49 APPLETON AVE | 2026-03 | $720,000 | 1,302 | 94.8% |
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