The Fair Share Report
357 Morrison Ave
Salem, NJ 08505
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 $110,379 – $243,225, from 12 comparable Salem 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 Salem assessments sit below market value — republished every October, applied town-wide. A $157,198 home should be assessed near $78,316.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $28,316 below what the ratio math suggests (36.2%).
Step 4 · The tax rate — same for every Salem home
$2.297 Schools · 27% $2.023 County · 23% $4.308 Town · 50%
Step 5 · The bill
This home vs. every recent Salem sale · assessed ÷ market
15%74%
Paying about right
This home's ratio lands inside Salem'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 |
|---|---|---|---|---|
| 5 MEADOWSIDE LANE | 2025-08 | $10,000 | — | 108.0% |
| 176 COOK AVE | 2026-03 | $160,000 | 1,713 | 36.0% |
| 178 COOK AVE | 2026-06 | $255,000 | 1,665 | 27.8% |
| 167 COOK AVE | 2025-12 | $110,000 | 1,849 | 54.5% |
| 175 NINTH ST | 2026-04 | $195,000 | 1,776 | 30.1% |
| 14 HILLCREST AVE | 2025-12 | $196,000 | 1,649 | 32.5% |
| 183 CROSSLAND AVE | 2025-12 | $130,000 | 1,713 | 45.2% |
| 190 CHESTNUT ST | 2025-05 | $215,000 | 1,581 | 26.8% |
| 334 CRAVEN AVE | 2025-10 | $116,000 | 1,843 | 69.1% |
| 188 COOK AVE | 2025-07 | $95,000 | 1,305 | 46.5% |
| 164 N UNION ST | 2025-09 | $199,000 | 1,516 | 35.6% |
| 179 VICTORY AVE | 2025-06 | $125,000 | 1,449 | 40.1% |
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