The Fair Share Report
294 Ely Ave
Franklin, NJ 08322
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 $302,129 – $386,872, from 12 comparable Franklin 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 Franklin assessments sit below market value — republished every October, applied town-wide. A $363,524 home should be assessed near $212,443.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $45,743 below what the ratio math suggests (21.5%).
Step 4 · The tax rate — same for every Franklin home
$2.153 Schools · 58% $0.732 County · 20% $0.856 Town · 23%
Step 5 · The bill
This home vs. every recent Franklin sale · assessed ÷ market
37%74%
Paying about right
This home's ratio lands inside Franklin'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 |
|---|---|---|---|---|
| 2673 MAIN RD | 2025-03 | $385,000 | 1,404 | 40.3% |
| 703 WILLOW GROVE RD | 2025-08 | $400,000 | 1,469 | 41.7% |
| 550 FENNEL RD | 2025-06 | $240,000 | 1,500 | 74.2% |
| 358 GARRISON RD | 2025-10 | $300,000 | 1,668 | 54.8% |
| 307 MORRIS AVE | 2025-08 | $365,000 | 1,548 | 51.7% |
| 61 HOWARD AVE | 2025-12 | $385,000 | 1,480 | 39.1% |
| 1190 LITTLE MILL RD | 2025-03 | $360,000 | 1,430 | 55.9% |
| 6520 LAKE RD | 2025-09 | $356,000 | 1,341 | 46.6% |
| 600 HOLLY DR | 2025-04 | $360,000 | 1,352 | 58.7% |
| 2455 GRANT AVE | 2025-08 | $395,000 | 1,550 | 49.8% |
| 3119 COLES MILL RD | 2025-02 | $270,000 | 1,252 | 53.7% |
| 32 CERTAIN AVE | 2025-05 | $299,900 | 1,150 | 51.1% |
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