The Fair Share Report
3 Morcom Ter
Oradell, NJ 07649
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.
Good news — this home pays less than its share
Its assessment sits low relative to what homes like it actually sell for. An appeal would only invite a fresh look at a number working in the owner's favor.
Step 1 · Market value
Likely range $664,917 – $757,087, from 6 comparable Oradell 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 Oradell assessments sit below market value — republished every October, applied town-wide. A $697,000 home should be assessed near $621,724.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $200,224 below what the ratio math suggests (32.2%).
Step 4 · The tax rate — same for every Oradell home
$1.353 Schools · 59% $0.237 County · 10% $0.705 Town · 31%
This home's own bill implies $2.250 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Oradell sale · assessed ÷ market
50%132%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 604 COOPER AVE | 2025-04 | $760,000 | 1,581 | 85.1% |
| 503 REIS AVENUE | 2025-05 | $600,000 | 1,164 | 96.6% |
| 197 ELIZABETH STREET | 2025-05 | $750,000 | 1,500 | 97.0% |
| 575 FLETCHER AVE | 2025-02 | $690,000 | 1,287 | 86.9% |
| 487 FIRST ST | 2025-02 | $835,000 | 1,779 | 81.8% |
| 636 MARTIN AVE | 2025-02 | $1,450,000 | 2,332 | 84.9% |
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