The Fair Share Report
32 Elm Pl
Demarest, NJ 07627
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 $1,596,430 – $1,965,141, from 12 comparable Demarest 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 Demarest assessments sit below market value — republished every October, applied town-wide. A $1,773,000 home should be assessed near $1,797,999.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $113,999 below what the ratio math suggests (6.3%).
Step 4 · The tax rate — same for every Demarest home
$1.149 Schools · 64% $0.219 County · 12% $0.438 Town · 24%
Step 5 · The bill
This home vs. every recent Demarest sale · assessed ÷ market
74%115%
Paying about right
This home's ratio lands inside Demarest'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 |
|---|---|---|---|---|
| 106 PRESCOTT ST | 2026-05 | $1,116,000 | 4,262 | 107.0% |
| 91 STEWART ST | 2026-01 | $1,250,000 | 2,678 | 84.1% |
| 29 JOHN ST | 2025-06 | $1,200,000 | 2,612 | 83.2% |
| 58 VAN HORN ST | 2026-05 | $1,850,000 | 3,700 | 93.7% |
| 10 SUNSET RD | 2026-06 | $1,730,000 | 3,400 | 92.7% |
| 88 WOODLAND RD | 2025-07 | $1,825,000 | 2,508 | 76.7% |
| 124 CROSS ST | 2025-06 | $2,027,000 | 3,777 | 91.0% |
| 72 HIGHLAND AVE | 2025-04 | $1,300,000 | 2,389 | 77.2% |
| 108 SERPENTINE RD | 2025-11 | $2,100,000 | 3,644 | 88.0% |
| 123 LENOX AVE | 2025-07 | $1,090,000 | 2,417 | 83.3% |
| 50 WILLIAM ST | 2025-05 | $2,263,625 | 3,988 | 87.0% |
| 22 MEADOW ST | 2025-06 | $1,320,000 | 3,249 | 94.4% |
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