The Fair Share Report
357 E 18th St
Paterson, NJ 07524
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 $406,000 – $755,000, from 12 comparable Paterson 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 Paterson assessments sit below market value — republished every October, applied town-wide. A $650,000 home should be assessed near $269,165.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $619,835 above what the ratio math suggests (230.3%).
Step 4 · The tax rate — same for every Paterson home
$1.307 Schools · 24% $1.048 County · 20% $2.980 Town · 56%
This home's own bill implies $2.441 per $100 — well off the general rate. That usually means the town revalued since the last bill.
Step 5 · The bill
This home vs. every recent Paterson sale · assessed ÷ market
65%224%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (47.62%) — roughly $33,062/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 477-481 E 25TH ST | 2025-04 | $550,000 | — | 91.0% |
| 669 EAST 27T ST | 2026-04 | $650,000 | — | 98.7% |
| 248-252 E 29TH ST | 2025-03 | $145,000 | — | 134.6% |
| 365-367 PARK AVE | 2026-06 | $840,000 | 3,971 | 77.1% |
| 514-518 21ST AVE | 2025-05 | $700,000 | — | 99.0% |
| 93-95 DUNDEE AVE | 2025-05 | $406,000 | — | 108.6% |
| 20-22 JOHN ST | 2025-05 | $715,000 | — | 81.8% |
| 69-71 DEY ST | 2025-04 | $300,000 | — | 123.0% |
| 81-85 CALDWELL AVE | 2026-02 | $650,000 | — | 105.1% |
| 171-175 MC BRIDE AVE | 2025-02 | $810,000 | — | 91.0% |
| 645-647 E 25TH ST | 2026-05 | $600,000 | 3,829 | 116.5% |
| 320-322 DIXON AVE | 2026-03 | $840,000 | 3,420 | 90.6% |
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