The Fair Share Report
342 Iris Rd
Commercial, NJ 08230
The town catches up with market prices only once a year — and only based on the average change of all homes in the area. This report checks whether this house's assessment kept pace.
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Good news — this home pays less than its share
Its assessment sits low relative to what homes like it actually sell for. An appeal would only invite a fresh look at a number working in the owner's favor.
Step 1 · Market value
Likely range $241,668 – $315,192, from 12 comparable Commercial 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 Commercial assessments sit below market value — republished every October, applied town-wide. A $265,501 home should be assessed near $213,808.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $106,208 below what the ratio math suggests (49.7%).
Step 4 · The tax rate — same for every Commercial home
$0.905 Schools · 33% $1.146 County · 42% $0.704 Town · 26%
Step 5 · The bill
This home vs. every recent Commercial sale · assessed ÷ market
29%145%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 321 FERN ROAD | 2026-04 | $280,000 | 1,440 | 47.6% |
| 7798 BATTLE LN | 2025-10 | $265,000 | 1,152 | 53.8% |
| 7800 BATTLE LANE | 2025-09 | $273,000 | 1,152 | 52.2% |
| 421 EVERGREEN RD | 2025-05 | $200,000 | 1,040 | 59.3% |
| 2321 BACON ST | 2025-12 | $150,000 | 1,328 | 91.5% |
| 5211 MAGNOLIA DR | 2025-11 | $232,000 | 960 | 53.2% |
| 2311 CHURCH ST | 2026-01 | $290,000 | 1,456 | 45.1% |
| 434 BEGONIA ROAD | 2025-11 | $189,000 | 1,116 | 29.1% |
| 416 LARK ROAD | 2025-10 | $235,000 | 1,152 | 49.5% |
| 340 ROBIN RD | 2025-12 | $85,000 | 1,325 | 128.8% |
| 5601 BRIARWOOD DR | 2025-09 | $210,000 | 1,040 | 64.3% |
| 1639 MAIN ST | 2025-06 | $235,000 | 1,312 | 62.5% |
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