The Fair Share Report
327 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 $483,510 – $560,832, from 12 comparable Bound Brook sales in the past 18 months, at this home's 1,623 sq ft.
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 $491,818 home should be assessed near $458,669.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $173,831 above what the ratio math suggests (37.9%).
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 $1.700 per $100 — well off the general rate. That usually means the town revalued since the last bill.
Step 5 · The bill
This home vs. every recent Bound Brook sale · assessed ÷ market
72%136%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (100.00%) — roughly $3,835/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 713 MOUNTAIN AVENUE | 2025-05 | $485,000 | 1,628 | 88.2% |
| 514 LONGWOOD AVENUE | 2025-05 | $450,000 | 1,498 | 104.0% |
| 265 SOUTH METAPE CIRCLE | 2026-02 | $605,000 | 1,646 | 77.8% |
| 369 CHERRY AVENUE | 2025-04 | $511,000 | 1,492 | 94.6% |
| 512 WEST SECOND STREET | 2026-02 | $575,000 | 1,664 | 91.0% |
| 775 WATCHUNG ROAD | 2025-05 | $540,000 | 1,782 | 103.9% |
| 308 CHURCH STREET | 2026-06 | $460,000 | 1,580 | 91.8% |
| 107 CHESTNUT STREET | 2026-02 | $540,000 | 1,254 | 85.9% |
| 601 THOMPSON AVENUE | 2026-02 | $440,000 | 1,534 | 111.8% |
| 254 WEST HIGH STREET | 2025-02 | $480,000 | 1,552 | 100.1% |
| 589 MOUNTAIN AVENUE | 2026-04 | $510,000 | 1,582 | 89.7% |
| 211 HARDY AVENUE | 2025-01 | $530,000 | 1,811 | 73.8% |
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