The Fair Share Report
348 E Millstream Rd
Plumsted, NJ 07302
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.
The numbers support an appeal
Even at the cautious end of the range, this home's ratio clears NJ's Chapter 123 line (66.55%) — roughly $4,368/yr at stake. NJ appeals are generally due April 1.
Step 1 · Market value
Likely range $208,718 – $405,353, from 12 comparable Plumsted 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 Plumsted assessments sit below market value — republished every October, applied town-wide. A $296,795 home should be assessed near $171,755.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $138,745 above what the ratio math suggests (80.8%).
Step 4 · The tax rate — same for every Plumsted home
$2.255 Schools · 72% $0.543 County · 17% $0.351 Town · 11%
This home's own bill implies $2.929 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Plumsted sale · assessed ÷ market
71%154%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 17 BRINDLETOWN RD | 2025-01 | $359,000 | 848 | 91.4% |
| 21 BRINDLETOWN RD | 2025-01 | $360,000 | 1,040 | 99.3% |
| 43 KUZYK RD | 2026-05 | $350,000 | 768 | 88.6% |
| 289 LAKEWOOD RD | 2025-01 | $130,000 | 927 | 167.5% |
| 71 JACOBSTOWN RD | 2026-04 | $324,900 | 660 | 94.5% |
| 101 ARCHERTOWN RD | 2025-03 | $215,000 | 1,006 | 184.0% |
| 38-40 STORY ST | 2025-04 | $400,000 | 1,248 | 94.0% |
| 3 APPLEGATE LN | 2026-02 | $420,000 | 1,416 | 96.2% |
| 38 MAPLE AVE | 2025-06 | $270,000 | 988 | 98.3% |
| 70-72 JACOBSTOWN RD | 2026-01 | $449,500 | 1,450 | 98.0% |
| 280 LAKEWOOD RD | 2026-02 | $545,000 | 1,479 | 91.5% |
| 6 TERRACE AVE | 2025-05 | $275,000 | 1,663 | 173.4% |
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