The Fair Share Report
276 New Jersey Ave
Downe, NJ 08321
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
This home's payments are about right
It sits inside Downe's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $164,500 – $290,000, from 7 comparable Downe sales in the past 18 months, at this home's 544 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Downe assessments sit below market value — republished every October, applied town-wide. A $180,000 home should be assessed near $141,120.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $320 below what the ratio math suggests (0.2%).
Step 4 · The tax rate — same for every Downe home
$1.454 Schools · 50% $1.070 County · 37% $0.407 Town · 14%
Step 5 · The bill
This home vs. every recent Downe sale · assessed ÷ market
31%107%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 208 PENNSYLVANIA AVE | 2025-05 | $180,000 | — | 82.8% |
| 293 COVE RD | 2025-06 | $230,000 | 505 | 61.4% |
| 115 DELAWARE AVE | 2025-07 | $140,000 | — | 100.0% |
| 98 DELAWARE AVE | 2026-05 | $475,000 | — | 32.8% |
| 227 NEW JERSEY AVE | 2025-06 | $175,000 | — | 67.3% |
| 256 COVE RD | 2025-06 | $290,000 | 864 | 97.5% |
| 102 GARRISON AVE | 2026-04 | $164,500 | — | 74.6% |
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