The Fair Share Report
32 First Ave
Monroe, NJ 08831
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 $411,034 – $637,018, from 12 comparable Monroe 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 Monroe assessments sit below market value — republished every October, applied town-wide. A $608,519 home should be assessed near $327,809.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $40,109 below what the ratio math suggests (12.2%).
Step 4 · The tax rate — same for every Monroe home
$1.535 Schools · 56% $0.608 County · 22% $0.596 Town · 22%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
22%75%
Paying about right
This home's ratio lands inside Monroe'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 |
|---|---|---|---|---|
| 39 DREXEL TERRACE | 2025-10 | $610,000 | 1,648 | 53.5% |
| 14 FOREST PARK TERR | 2025-09 | $720,000 | 1,692 | 41.8% |
| 15 DREXEL TERRACE | 2026-06 | $627,500 | 1,659 | 48.6% |
| 65 FOREST PARK TERRACE | 2026-02 | $635,000 | 1,524 | 46.0% |
| 13 SHEFFIELD AVE | 2025-07 | $585,000 | 1,518 | 50.2% |
| 106 MONMOUTH RD | 2026-04 | $560,000 | 1,512 | 47.6% |
| 41 DREXEL TERRACE | 2025-04 | $564,000 | 1,512 | 51.5% |
| 152A CHATHAM DRIVE | 2025-09 | $422,500 | 1,586 | 36.0% |
| 165C BELMAR ROAD | 2025-08 | $277,500 | 1,588 | 40.0% |
| 330C QUINTON DRIVE | 2025-02 | $540,000 | 1,628 | 23.4% |
| 287C SUNSET CIRCLE | 2025-04 | $337,000 | 1,568 | 33.6% |
| 330B QUINTON DRIVE | 2025-03 | $470,000 | 1,612 | 27.1% |
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