The Fair Share Report
32 Summit Ave
Hanover, NJ 07927
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 $575,585 – $787,539, from 12 comparable Hanover 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 Hanover assessments sit below market value — republished every October, applied town-wide. A $706,855 home should be assessed near $490,487.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $116,587 below what the ratio math suggests (23.8%).
Step 4 · The tax rate — same for every Hanover home
$1.207 Schools · 59% $0.314 County · 15% $0.529 Town · 26%
Step 5 · The bill
This home vs. every recent Hanover sale · assessed ÷ market
41%85%
Paying about right
This home's ratio lands inside Hanover'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 |
|---|---|---|---|---|
| 83 MOUNTAIN AVE | 2026-04 | $735,000 | 1,756 | 50.0% |
| 82 TROY HILLS RD | 2026-06 | $600,000 | 1,668 | 63.7% |
| 45 POLHEMUS TER | 2025-12 | $860,000 | 1,775 | 49.4% |
| 5 CHERRY ST | 2026-05 | $835,860 | 1,612 | 48.6% |
| 42 FARVIEW AVE | 2025-01 | $701,000 | 2,028 | 55.6% |
| 30 POLHEMUS TER | 2026-03 | $775,000 | 1,696 | 50.1% |
| 14 PARSIPPANY RD | 2025-09 | $600,000 | 1,840 | 54.1% |
| 45 PERRY ST | 2025-09 | $690,000 | 1,456 | 52.9% |
| 13 MOUNTVIEW RD | 2025-12 | $888,800 | 1,708 | 48.6% |
| 29 ADAMS DR | 2025-12 | $737,550 | 1,706 | 51.0% |
| 43 CRESCENT DR | 2025-09 | $650,000 | 1,677 | 55.8% |
| 4 KITCHELL PL | 2026-01 | $825,000 | 1,768 | 45.9% |
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