The Fair Share Report
315 Codrington Pl
Bound Brook, NJ 08805
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 $436,040 – $565,773, from 12 comparable Bound Brook 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 Bound Brook assessments sit below market value — republished every October, applied town-wide. A $511,202 home should be assessed near $476,747.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $7,147 below what the ratio math suggests (1.5%).
Step 4 · The tax rate — same for every Bound Brook home
$1.107 Schools · 50% $0.345 County · 16% $0.753 Town · 34%
This home's own bill implies $2.037 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Bound Brook sale · assessed ÷ market
72%113%
Paying about right
This home's ratio lands inside Bound Brook'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 |
|---|---|---|---|---|
| 369 CHERRY AVENUE | 2025-04 | $511,000 | 1,492 | 94.6% |
| 713 MOUNTAIN AVENUE | 2025-05 | $485,000 | 1,628 | 88.2% |
| 601 THOMPSON AVENUE | 2026-02 | $440,000 | 1,534 | 111.8% |
| 514 LONGWOOD AVENUE | 2025-05 | $450,000 | 1,498 | 104.0% |
| 308 CHURCH STREET | 2026-06 | $460,000 | 1,580 | 91.8% |
| 542 WHEATLAND AVENUE | 2026-01 | $490,000 | 1,344 | 85.8% |
| 513 GROVE AVENUE | 2025-05 | $450,000 | 1,233 | 94.0% |
| 342 LONGWOOD AVENUE | 2025-03 | $420,000 | 1,421 | 100.6% |
| 383 WEST HIGH STREET | 2025-05 | $520,000 | 1,098 | 98.8% |
| 561 MARION STREET | 2026-06 | $600,000 | 1,260 | 79.8% |
| 211 WEST SECOND STREET | 2025-03 | $525,000 | 1,560 | 75.9% |
| 107 CHESTNUT STREET | 2026-02 | $540,000 | 1,254 | 85.9% |
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