The Fair Share Report
29 Keep St
Madison, NJ 07940
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 $689,643 – $1,120,514, from 12 comparable Madison 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 Madison assessments sit below market value — republished every October, applied town-wide. A $770,520 home should be assessed near $464,007.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $60,107 below what the ratio math suggests (13.0%).
Step 4 · The tax rate — same for every Madison home
$1.423 Schools · 63% $0.350 County · 16% $0.481 Town · 21%
Step 5 · The bill
This home vs. every recent Madison sale · assessed ÷ market
31%77%
Paying about right
This home's ratio lands inside Madison'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 |
|---|---|---|---|---|
| 19 CROSS ST | 2025-11 | $710,000 | 1,656 | 61.0% |
| 47 RIDGEDALE AVE | 2026-02 | $530,000 | 1,564 | 78.6% |
| 18 HILLCREST RD | 2026-01 | $1,375,000 | 1,856 | 56.8% |
| 78 NORTH ST | 2026-03 | $715,000 | 1,430 | 55.3% |
| 21 STATION RD | 2025-11 | $650,000 | 1,836 | 79.7% |
| 53 HIGHLAND AVE | 2026-01 | $875,000 | 1,876 | 59.2% |
| 8 PINE TREE TER | 2025-06 | $735,000 | 1,651 | 71.4% |
| 108 GREENWOOD AVE | 2026-05 | $1,250,000 | 1,853 | 40.9% |
| 3 DURWOOD PL | 2026-02 | $740,000 | 1,576 | 66.2% |
| 95 PARK AVE | 2025-06 | $650,000 | 2,065 | 55.3% |
| 29 PINE AVE | 2025-01 | $812,500 | 1,624 | 63.3% |
| 55 VALLEY RD | 2025-05 | $1,110,000 | 1,718 | 50.1% |
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