The Fair Share Report
35 Summit Ave
Hanover, NJ 07927
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 $670,169 – $873,086, from 12 comparable Hanover 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 Hanover assessments sit below market value — republished every October, applied town-wide. A $821,988 home should be assessed near $570,377.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $134,677 below what the ratio math suggests (23.6%).
Step 4 · The tax rate — same for every Hanover home
$1.207 Schools · 59% $0.314 County · 15% $0.529 Town · 26%
Step 5 · The bill
This home vs. every recent Hanover sale · assessed ÷ market
41%85%
Paying about right
This home's ratio lands inside Hanover'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 |
|---|---|---|---|---|
| 29 SO BELAIR AVE | 2026-06 | $630,000 | 1,900 | 57.8% |
| 15 SO BELAIR AVE | 2026-04 | $852,250 | 2,054 | 49.4% |
| 25 SO BELAIR AVE | 2026-05 | $735,000 | 1,960 | 53.3% |
| 4 KITCHELL PL | 2026-01 | $825,000 | 1,768 | 45.9% |
| 25 WASHINGTON AVE | 2026-03 | $840,000 | 2,052 | 50.9% |
| 14 PARSIPPANY RD | 2025-09 | $600,000 | 1,840 | 54.1% |
| 42 FARVIEW AVE | 2025-01 | $701,000 | 2,028 | 55.6% |
| 10 FAIRCHILD PL | 2025-02 | $520,000 | 2,492 | 66.1% |
| 83 MOUNTAIN AVE | 2026-04 | $735,000 | 1,756 | 50.0% |
| 54 LOCUST DR | 2026-02 | $865,000 | 1,976 | 50.8% |
| 71 MOUNTAIN AVE | 2025-12 | $725,000 | 1,988 | 55.3% |
| 41 COUNTRYWOOD DR | 2025-06 | $850,000 | 1,902 | 49.7% |
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