The Fair Share Report
3 Cove Rd
Upper, NJ 08223
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 $622,176 – $744,418, from 12 comparable Upper 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 Upper assessments sit below market value — republished every October, applied town-wide. A $669,780 home should be assessed near $379,430.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $488,970 above what the ratio math suggests (128.9%).
Step 4 · The tax rate — same for every Upper home
$1.649 Schools · 72% $0.331 County · 14% $0.323 Town · 14%
Step 5 · The bill
This home vs. every recent Upper sale · assessed ÷ market
36%145%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (65.15%) — roughly $11,261/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 825 STAGECOACH RD | 2026-06 | $881,330 | 2,879 | 58.8% |
| 1731 RT US 9 SO #28 | 2026-03 | $550,000 | 2,002 | 52.2% |
| 1731 RT US 9 SO #25 | 2026-03 | $519,000 | 2,002 | 55.3% |
| 1731 RT US 9 SO #41 | 2025-07 | $480,000 | 2,002 | 62.4% |
| 1731 RT US 9 SO #28 | 2025-06 | $525,000 | 2,002 | 54.6% |
| 1731 RT US 9 SO #122 | 2025-03 | $475,000 | 2,002 | 60.4% |
| 1731 RT US 9 SO #95 | 2025-01 | $515,000 | 1,848 | 54.0% |
| 10 N MEADOW RIDGE LA | 2025-04 | $645,000 | 2,428 | 50.4% |
| 10 LAUREL RIDGE RD | 2025-06 | $579,900 | 2,518 | 56.9% |
| 33 E SUMNER AVE | 2025-03 | $3,100,000 | 2,372 | 33.2% |
| 23 GLORY RD | 2025-02 | $625,000 | 1,892 | 40.0% |
| 6 W VENTNOR AVE | 2025-09 | $735,000 | 2,288 | 53.2% |
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