The Fair Share Report
331 Oak St
Monroe, NJ 08094
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 Monroe's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $224,583 – $319,846, from 12 comparable Monroe sales in the past 18 months, at this home's 1,056 sq ft.
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 $260,000 home should be assessed near $154,622.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $16,722 below what the ratio math suggests (10.8%).
Step 4 · The tax rate — same for every Monroe home
$2.028 Schools · 54% $0.694 County · 18% $1.046 Town · 28%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
38%74%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 2932 S SHORE DR | 2025-07 | $365,000 | 1,152 | 46.3% |
| 103 RAPHAEL CT | 2025-10 | $245,000 | 1,152 | 51.7% |
| 409 DEGAS CT | 2025-04 | $245,000 | 1,152 | 53.5% |
| 1319 HERBERT BLVD | 2025-09 | $270,250 | 1,008 | 53.8% |
| 713 VAN GOGH CT | 2025-10 | $250,000 | 1,152 | 52.9% |
| 1035 S BEECHAM RD | 2025-07 | $315,000 | 1,040 | 48.8% |
| 1164 S BEECHAM RD | 2025-04 | $285,000 | 1,040 | 50.3% |
| 800 AMES RD | 2025-03 | $245,000 | 1,268 | 68.4% |
| 649 PANAMA CT | 2026-02 | $320,000 | 1,318 | 52.6% |
| 1607 VICTORY AVE | 2026-03 | $320,000 | 960 | 44.0% |
| 1434 TENTH AVE | 2026-06 | $300,000 | 1,061 | 51.2% |
| 4074 S BLACK HORSE PK | 2025-08 | $175,000 | 1,081 | 100.6% |
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