The Fair Share Report
362 Main St
Downe, NJ 08345
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 $105,000 – $295,000, from 5 comparable Downe sales in the past 18 months, at this home's 1,224 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Downe assessments sit below market value — republished every October, applied town-wide. A $200,000 home should be assessed near $156,800.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $19,600 below what the ratio math suggests (12.5%).
Step 4 · The tax rate — same for every Downe home
$1.454 Schools · 50% $1.070 County · 37% $0.407 Town · 14%
Step 5 · The bill
This home vs. every recent Downe sale · assessed ÷ market
31%136%
Paying about right
This home's ratio lands inside Downe'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 |
|---|---|---|---|---|
| 446 MAIN ST | 2025-07 | $200,000 | — | 36.3% |
| 615 OLD BEAVER DAM RD | 2025-01 | $105,000 | 1,110 | 150.1% |
| 250 COVE RD | 2025-02 | $295,000 | 1,260 | 101.5% |
| 146 FORTESCUE RD | 2025-01 | $209,000 | 896 | 61.8% |
| 684 HALEYVILLE RD | 2025-05 | $350,000 | — | 48.0% |
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