The Fair Share Report
40 Independence Dr
Monroe, NJ 08331
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 $677,887 – $843,290, from 12 comparable Monroe 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 Monroe assessments sit below market value — republished every October, applied town-wide. A $762,775 home should be assessed near $410,907.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $14,307 below what the ratio math suggests (3.5%).
Step 4 · The tax rate — same for every Monroe home
$1.535 Schools · 56% $0.608 County · 22% $0.596 Town · 22%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
22%67%
Paying about right
This home's ratio lands inside Monroe'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 |
|---|---|---|---|---|
| 2 JASMINE DRIVE | 2026-04 | $810,000 | 2,384 | 59.7% |
| 51 TRADITIONS PLACE | 2026-06 | $675,000 | 2,364 | 49.2% |
| 53 MORGAN WAY | 2025-11 | $693,000 | 2,463 | 49.1% |
| 6 TRADITIONS PLACE | 2026-05 | $645,000 | 2,364 | 50.3% |
| 20 JASMINE DRIVE | 2026-06 | $811,000 | 2,356 | 61.3% |
| 46 PERIWINKLE DRIVE | 2025-01 | $839,900 | 2,356 | 58.1% |
| 18 LARKSPUR LANE | 2025-08 | $790,000 | 2,536 | 61.3% |
| 14 RAVENSLAKE ROAD | 2025-06 | $725,000 | 2,385 | 53.3% |
| 26 RAVENSLAKE ROAD | 2025-05 | $677,000 | 2,385 | 57.0% |
| 106 MASTERS DRIVE | 2026-05 | $949,800 | 2,496 | 46.7% |
| 240 DIAMOND SPRING DRIVE | 2025-12 | $736,000 | 2,364 | 49.5% |
| 64 DIAMOND SPRING DRIVE | 2026-05 | $582,000 | 2,523 | 53.4% |
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