The Fair Share Report
27 Mitchell Pl
Newark, NJ 07642
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 $452,556 – $573,922, from 12 comparable Newark 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 Newark assessments sit below market value — republished every October, applied town-wide. A $493,864 home should be assessed near $200,953.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $83,353 below what the ratio math suggests (41.5%).
Step 4 · The tax rate — same for every Newark home
$1.162 Schools · 29% $0.519 County · 13% $2.318 Town · 58%
Step 5 · The bill
This home vs. every recent Newark sale · assessed ÷ market
15%58%
Keep quiet and enjoy it
This home's assessment ratio sits below the Newark 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 |
|---|---|---|---|---|
| 53 EASTERN PKWY | 2025-06 | $525,000 | 1,765 | 30.6% |
| 53 EASTERN PKWY | 2025-02 | $317,500 | 1,765 | 50.6% |
| 46-48 LONGFELLOW AVE | 2025-05 | $489,000 | 1,770 | 33.7% |
| 48-50 IVY ST | 2025-10 | $575,000 | 1,774 | 23.6% |
| 2-4 MIDLAND PL | 2024-12 | $468,000 | 1,728 | 34.4% |
| 282 WEEQUAHIC AVE | 2025-05 | $560,000 | 1,775 | 20.8% |
| 245-247 KERRIGAN BLVD | 2025-08 | $590,000 | 1,684 | 49.2% |
| 486-488 S 20TH ST | 2025-02 | $485,000 | 1,852 | 52.5% |
| 292-294 MONTCLAIR AVE | 2025-11 | $641,000 | 1,646 | 27.1% |
| 240 WEST END AVE | 2026-03 | $290,000 | 1,785 | 47.4% |
| 274 ELLERY AVE | 2026-04 | $492,500 | 1,724 | 30.1% |
| 25 PARK VIEW TERR | 2025-01 | $426,000 | 1,743 | 34.6% |
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