The Fair Share Report
371 E Broadway
Salem, NJ 08855
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 $95,230 – $261,907, from 12 comparable Salem sales in the past 18 months, at this home's 3,440 sq ft.
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 $182,763 home should be assessed near $91,053.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $25,053 below what the ratio math suggests (27.5%).
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
19%75%
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 |
|---|---|---|---|---|
| 31 UNION ST | 2025-07 | $200,000 | — | 19.7% |
| 300 E BROADWAY | 2026-01 | $210,000 | 3,472 | 31.8% |
| 49-51 ELM ST | 2026-03 | $230,000 | 2,512 | 24.8% |
| 52 MARKET ST | 2026-01 | $150,000 | 3,135 | 41.0% |
| 10-10 1/2 WALNUT ST | 2025-12 | $150,000 | — | 57.2% |
| 284 & 286 GRANT ST | 2025-06 | $275,000 | 3,052 | 24.6% |
| 107-109 SEVENTH ST | 2025-01 | $85,000 | 3,900 | 61.4% |
| 244 E BROADWAY | 2026-04 | $15,000 | 3,536 | 74.7% |
| 204-206 WESLEY ST | 2025-07 | $180,000 | 2,572 | 29.9% |
| 385-387 E BROADWAY | 2026-02 | $238,000 | 3,126 | 28.1% |
| 54 MARKET ST | 2025-08 | $60,000 | 3,246 | 35.3% |
| 46 WALNUT ST | 2025-01 | $100,000 | 2,596 | 54.9% |
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