The Fair Share Report
357 Fairmount Ave
Newark, NJ 07103
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.
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 $400,383 – $478,593, from 12 comparable Newark 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 Newark assessments sit below market value — republished every October, applied town-wide. A $425,315 home should be assessed near $173,061.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $74,261 below what the ratio math suggests (42.9%).
Step 4 · The tax rate — same for every Newark home
$1.162 Schools · 29% $0.519 County · 13% $2.318 Town · 58%
Step 5 · The bill
This home vs. every recent Newark sale · assessed ÷ market
15%58%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 56-60 FERGUSON ST | 2026-05 | $400,000 | 1,560 | 47.6% |
| 37 MARROW ST | 2025-10 | $410,000 | 1,526 | 46.2% |
| 57 CORNERSTONE LN | 2025-06 | $470,000 | 1,526 | 40.3% |
| 41 YANCY DR | 2025-05 | $450,000 | 1,526 | 41.9% |
| 41 YANCY DR | 2025-01 | $315,000 | 1,526 | 59.8% |
| 53 MARROW ST | 2025-08 | $415,000 | 1,420 | 43.7% |
| 12 RIDER CT | 2025-07 | $385,000 | 1,526 | 45.7% |
| 246 MATTHEWS DR | 2026-05 | $480,000 | 1,296 | 42.1% |
| 43 SETON HALL DR | 2026-02 | $390,000 | 1,479 | 44.5% |
| 14 RIDER CT | 2025-04 | $395,000 | 1,479 | 55.0% |
| 71 16TH AVE | 2026-04 | $365,000 | 1,188 | 27.1% |
| 71 16TH AVE | 2025-07 | $208,000 | 1,188 | 47.5% |
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