The Fair Share Report
326 E Broadway
Salem, NJ 08070
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
This home's payments are about right
It sits inside Salem's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $97,997 – $221,195, from 12 comparable Salem sales in the past 18 months, at this home's 2,544 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Salem assessments sit below market value — republished every October, applied town-wide. A $144,482 home should be assessed near $71,981.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $17,681 below what the ratio math suggests (24.6%).
Step 4 · The tax rate — same for every Salem home
$2.297 Schools · 27% $2.023 County · 23% $4.308 Town · 50%
Step 5 · The bill
This home vs. every recent Salem sale · assessed ÷ market
19%74%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 153 SEVENTH ST | 2025-04 | $130,000 | 2,341 | 18.2% |
| 385-387 E BROADWAY | 2026-02 | $238,000 | 3,126 | 28.1% |
| 349 E BROADWAY | 2025-03 | $65,000 | 2,348 | 76.9% |
| 46 WALNUT ST | 2025-01 | $100,000 | 2,596 | 54.9% |
| 49-51 ELM ST | 2026-03 | $230,000 | 2,512 | 24.8% |
| 339-341 E BROADWAY | 2025-02 | $130,000 | 2,289 | 35.5% |
| 35 WALNUT ST | 2025-09 | $180,000 | 2,278 | 33.8% |
| 35 WALNUT ST | 2025-03 | $80,000 | 2,278 | 76.0% |
| 297 PEARL ST | 2025-09 | $212,500 | 2,444 | 23.1% |
| 77 W BROADWAY | 2025-10 | $165,000 | 2,841 | 48.1% |
| 77 W BROADWAY | 2024-12 | $135,000 | 2,841 | 58.7% |
| 194 SEVENTH ST | 2025-10 | $73,322 | 2,151 | 88.8% |
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