The Fair Share Report
35 Keep St
Madison, NJ 07940
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 $1,125,604 – $2,244,690, from 12 comparable Madison 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 Madison assessments sit below market value — republished every October, applied town-wide. A $1,840,038 home should be assessed near $1,108,071.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $224,771 below what the ratio math suggests (20.3%).
Step 4 · The tax rate — same for every Madison home
$1.423 Schools · 63% $0.350 County · 16% $0.481 Town · 21%
Step 5 · The bill
This home vs. every recent Madison sale · assessed ÷ market
34%84%
Paying about right
This home's ratio lands inside Madison's normal band. The drift hasn't singled it out — no case for a tax appeal.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 17 WOODCLIFF DR | 2025-06 | $1,825,000 | 3,274 | 54.6% |
| 36 KINNEY ST | 2025-05 | $1,250,000 | 3,689 | 43.0% |
| 138 CENTRAL AVE | 2025-09 | $1,343,000 | 3,500 | 54.1% |
| 36 HIGHLAND AVE | 2026-05 | $805,000 | 3,445 | 55.2% |
| 83 POMEROY RD | 2025-01 | $2,199,000 | 3,325 | 60.1% |
| 13 SOUTH ST | 2025-10 | $950,000 | 2,980 | 48.9% |
| 96 GREENWOOD AVE | 2025-01 | $1,950,000 | 3,380 | 55.1% |
| 24 FAIRVIEW AVE | 2026-04 | $2,310,000 | 3,367 | 45.0% |
| 20 HILLSIDE AVE | 2025-05 | $2,300,000 | 4,296 | 62.5% |
| 5 EAST LN | 2025-07 | $2,550,000 | 3,588 | 54.8% |
| 50 PROSPECT ST | 2026-05 | $999,999 | 2,719 | 77.5% |
| 88 POMEROY RD | 2025-08 | $1,900,000 | 2,707 | 62.5% |
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