The Fair Share Report
25 Capstan Rd
Ocean, NJ 08758
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.
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Step 1 · Market value
Likely range $448,574 – $865,495, from 12 comparable Ocean 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 Ocean assessments sit below market value — republished every October, applied town-wide. A $589,867 home should be assessed near $545,450.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $96,850 above what the ratio math suggests (17.8%).
Step 4 · The tax rate — same for every Ocean home
$0.713 Schools · 45% $0.339 County · 21% $0.526 Town · 33%
Step 5 · The bill
This home vs. every recent Ocean sale · assessed ÷ market
68%149%
Paying about right
This home's ratio lands inside Ocean'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 |
|---|---|---|---|---|
| 13 BAYVIEW DRIVE | 2025-05 | $600,000 | 1,954 | 99.3% |
| 44 BAY PARKWAY | 2025-06 | $500,000 | 2,053 | 84.4% |
| 76 SHERIDAN STREET | 2026-04 | $995,000 | 1,945 | 76.5% |
| 119 OREGON AVENUE | 2025-04 | $250,000 | 1,637 | 120.8% |
| 50 LIGHTHOUSE DRIVE | 2026-06 | $475,000 | 1,790 | 66.1% |
| 211 WELLS MILLS ROAD | 2026-04 | $390,000 | 1,828 | 94.2% |
| 71 SHERIDAN STREET | 2025-07 | $700,000 | 1,589 | 71.5% |
| 14 VESSEL ROAD | 2026-05 | $979,000 | 1,599 | 70.5% |
| 86 ILLINOIS AVENUE | 2025-08 | $505,000 | 1,980 | 78.7% |
| 122 ENGLEWOOD AVENUE | 2026-05 | $650,000 | 1,800 | 83.6% |
| 23 BAYVIEW DRIVE | 2025-04 | $655,333 | 1,677 | 83.3% |
| 109 ENGLEWOOD AVENUE | 2026-05 | $771,000 | 1,789 | 71.0% |
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