The Fair Share Report
3 Pine St
Vernon, NJ 07462
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.
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Step 1 · Market value
Likely range $277,587 – $531,598, from 12 comparable Vernon 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 Vernon assessments sit below market value — republished every October, applied town-wide. A $393,057 home should be assessed near $361,377.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $25,923 above what the ratio math suggests (7.2%).
Step 4 · The tax rate — same for every Vernon home
$1.368 Schools · 58% $0.438 County · 19% $0.539 Town · 23%
Step 5 · The bill
This home vs. every recent Vernon sale · assessed ÷ market
67%145%
Paying about right
This home's ratio lands inside Vernon'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 |
|---|---|---|---|---|
| 5 PORT ROYAL DR UNIT 7 | 2026-02 | $320,000 | 2,002 | 98.1% |
| 37 EVERGREEN RD | 2025-08 | $415,000 | 1,738 | 83.9% |
| 56 LAKESIDE DR NW | 2025-07 | $590,000 | 1,842 | 77.1% |
| 19 ESTHER DR | 2025-08 | $450,000 | 1,800 | 90.7% |
| 20 AUGUSTA DR UNIT 1 | 2025-12 | $290,000 | 1,820 | 100.0% |
| 8 SUNRISE DR UNIT 7 | 2025-11 | $290,000 | 1,820 | 99.1% |
| 12 AUGUSTA DR UNIT 1 | 2025-09 | $290,000 | 1,820 | 97.4% |
| 6 AUGUSTA DR UNIT 5 | 2025-04 | $327,000 | 1,820 | 82.8% |
| 1 POINT O'WOODS TER U 1 | 2025-04 | $330,000 | 1,820 | 86.7% |
| 540 GRANDVIEW DR | 2025-10 | $485,000 | 1,766 | 75.3% |
| 13 CHESTNUT ST | 2026-06 | $505,000 | 1,856 | 72.2% |
| 1 HILTON HEAD DR UNIT 5 | 2025-05 | $330,000 | 1,988 | 89.7% |
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