The Fair Share Report
306 New Jersey Ave
Downe, NJ 08321
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 $162,000 – $273,000, from 5 comparable Downe sales in the past 18 months.
Step 2 · The Director's Ratio
The state's official measure of how far Downe assessments sit below market value — republished every October, applied town-wide. A $164,500 home should be assessed near $128,968.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $258,432 above what the ratio math suggests (200.4%).
Step 4 · The tax rate — same for every Downe home
$1.454 Schools · 50% $1.070 County · 37% $0.407 Town · 14%
Step 5 · The bill
This home vs. every recent Downe sale · assessed ÷ market
31%245%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (90.16%) — roughly $7,575/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 21 VASSAR AVE | 2026-06 | $162,000 | — | 52.0% |
| 18 VASSAR AVE | 2026-02 | $273,000 | — | 50.8% |
| 97 GARRISON AVE | 2026-03 | $135,000 | — | 80.3% |
| 212 NEW JERSEY AVE | 2026-03 | $345,000 | — | 57.5% |
| 102 GARRISON AVE | 2026-04 | $164,500 | — | 74.6% |
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