The Fair Share Report
4 Mitchell Rd
Readington, NJ 08876
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 $550,006 – $707,018, from 12 comparable Readington sales in the past 18 months, at this home's 1,787 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Readington assessments sit below market value — republished every October, applied town-wide. A $638,214 home should be assessed near $443,112.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $35,412 below what the ratio math suggests (8.0%).
Step 4 · The tax rate — same for every Readington home
$1.708 Schools · 61% $0.506 County · 18% $0.584 Town · 21%
Step 5 · The bill
This home vs. every recent Readington sale · assessed ÷ market
48%85%
Paying about right
This home's ratio lands inside Readington'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 |
|---|---|---|---|---|
| 32 PULASKI RD | 2025-12 | $700,000 | 1,960 | 61.5% |
| 521 RT 523 | 2025-06 | $553,000 | 1,797 | 61.0% |
| 98 DREAHOOK RD | 2025-08 | $640,000 | 1,714 | 64.2% |
| 330 MOUNTAIN RD | 2025-01 | $610,000 | 1,822 | 59.3% |
| 4 HONEYMAN RD NORTH | 2025-01 | $745,000 | 1,883 | 61.9% |
| 10 CLARK LN | 2025-12 | $620,000 | 1,993 | 65.1% |
| 601 RT 523 | 2026-04 | $596,000 | 1,661 | 63.4% |
| 103 OLD FARM RD | 2025-01 | $761,000 | 1,644 | 57.7% |
| 3 STILLWELL RD | 2025-11 | $750,000 | 1,736 | 58.1% |
| 31 CASPAR BERGER RD | 2025-08 | $757,000 | 1,784 | 56.8% |
| 2 DEMOTT DR | 2025-07 | $801,500 | 2,160 | 57.1% |
| 253 LAUREL CT | 2025-09 | $530,000 | 1,722 | 65.1% |
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