The Fair Share Report
40 Cornell Ave
Gloucester, NJ 08030
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 $297,372 – $393,173, from 12 comparable Gloucester City 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 Gloucester City assessments sit below market value — republished every October, applied town-wide. A $345,287 home should be assessed near $196,123.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $56,223 below what the ratio math suggests (28.7%).
Step 4 · The tax rate — same for every Gloucester City home
$1.323 Schools · 25% $0.921 County · 17% $3.048 Town · 58%
Step 5 · The bill
This home vs. every recent Gloucester City sale · assessed ÷ market
26%71%
Paying about right
This home's ratio lands inside Gloucester City'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 |
|---|---|---|---|---|
| 206 WESTON AVE | 2025-08 | $375,000 | 1,860 | 46.7% |
| 392 WALNUT AVE | 2026-02 | $315,000 | 1,787 | 52.0% |
| 21 PRINCETON AVE | 2025-07 | $315,000 | 2,012 | 54.9% |
| 355 MAPLE AVE | 2025-07 | $337,000 | 1,708 | 44.8% |
| 1461 CHESTNUT AVE | 2025-07 | $335,000 | 1,908 | 48.2% |
| 374 WALNUT AVE | 2026-01 | $370,000 | 1,755 | 48.8% |
| 374 WALNUT AVE | 2025-10 | $190,000 | 1,755 | 95.0% |
| 27 GOLDY DRIVE | 2026-04 | $366,000 | 1,617 | 46.3% |
| 413 SOMERSET ST | 2025-11 | $379,000 | — | 15.3% |
| 1425 CHESTNUT AVE | 2026-01 | $350,000 | 1,598 | 44.8% |
| 9 STITES AVE | 2025-06 | $430,000 | 1,667 | 44.5% |
| 429 WALNUT AVE | 2025-02 | $300,000 | 2,080 | 55.5% |
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