The Fair Share Report
392 E Broadway
Salem, NJ 08078
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 $120,366 – $180,153, 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 $147,102 home should be assessed near $73,286.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $27,186 below what the ratio math suggests (37.1%).
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%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 |
|---|---|---|---|---|
| 91 SEVENTH ST | 2025-02 | $142,000 | 1,809 | 30.9% |
| 210 WESLEY ST | 2026-01 | $105,000 | 1,795 | 47.6% |
| 67 EIGHTH ST | 2025-12 | $210,000 | 1,857 | 22.1% |
| 293 PEARL ST | 2025-06 | $210,000 | 1,792 | 25.1% |
| 217-219 CHURCH ST | 2025-07 | $177,500 | 2,256 | 27.8% |
| 162 SEVENTH ST | 2025-11 | $140,000 | 2,061 | 27.1% |
| 31 UNION ST | 2025-07 | $200,000 | — | 19.7% |
| 217-219 CHURCH ST | 2025-08 | $196,100 | 2,256 | 31.6% |
| 10-10 1/2 WALNUT ST | 2025-12 | $150,000 | — | 57.2% |
| 339-341 E BROADWAY | 2025-02 | $130,000 | 2,289 | 35.5% |
| 33 JOHNSON ST | 2025-09 | $185,000 | 1,898 | 34.6% |
| 171 SEVENTH ST | 2025-02 | $124,000 | 2,068 | 28.1% |
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