The Fair Share Report
382 Ferrell Rd
So Harrison, NJ 08062
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.
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Step 1 · Market value
Likely range $350,812 – $485,642, from 12 comparable South Harrison 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 South Harrison assessments sit below market value — republished every October, applied town-wide. A $417,041 home should be assessed near $246,596.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $28,096 below what the ratio math suggests (11.4%).
Step 4 · The tax rate — same for every South Harrison home
$2.212 Schools · 67% $0.783 County · 24% $0.311 Town · 9%
Step 5 · The bill
This home vs. every recent South Harrison sale · assessed ÷ market
40%73%
Paying about right
This home's ratio lands inside South Harrison'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 |
|---|---|---|---|---|
| 724 FRANKLINVILLE RD | 2025-08 | $450,000 | 1,693 | 59.1% |
| 713 FRANKLINVILLE RD | 2025-02 | $325,000 | 1,508 | 77.5% |
| 126 S FOXFORD LN | 2025-07 | $675,000 | 2,318 | 52.0% |
| 467 LINCOLN MILL RD | 2025-02 | $425,000 | 1,858 | 58.4% |
| 1065 MULLICA HILL RD | 2026-02 | $741,000 | 2,436 | 39.8% |
| 110 N FOXFORD LN | 2025-11 | $750,000 | 2,376 | 48.2% |
| 2 RACCOON CREEK CT | 2025-02 | $600,000 | 2,012 | 47.0% |
| 1112 MULLICA HILL RD | 2026-05 | $440,000 | 1,222 | 47.3% |
| 730 TOMLIN STATION RD | 2026-05 | $720,000 | 2,152 | 43.4% |
| 1518 COMMISSIONERS RD | 2026-05 | $555,000 | 2,452 | 51.9% |
| 559 FRANKLINVILLE RD | 2026-03 | $650,000 | 2,214 | 46.9% |
| 108 CEDAR GROVE RD | 2025-10 | $500,000 | 2,451 | 58.0% |
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