The Fair Share Report
40 Ln 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 $240,291 – $367,850, 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 $276,719 home should be assessed near $157,176.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $22,076 below what the ratio math suggests (14.0%).
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 |
|---|---|---|---|---|
| 213 MERCER ST | 2026-04 | $290,000 | 1,800 | 35.4% |
| 1695 MARKET ST | 2025-01 | $325,000 | 1,649 | 49.8% |
| 406 SOMERSET ST | 2025-09 | $235,150 | 1,637 | 43.1% |
| 27 GOLDY DRIVE | 2026-04 | $366,000 | 1,617 | 46.3% |
| 900 MONMOUTH ST | 2025-11 | $175,000 | 1,571 | 61.1% |
| 20 THOMPSON AVE | 2025-06 | $290,000 | 1,704 | 34.6% |
| 1425 CHESTNUT AVE | 2026-01 | $350,000 | 1,598 | 44.8% |
| 514 MIDDLESEX ST | 2025-06 | $251,000 | 1,712 | 37.7% |
| 315 CUMBERLAND ST | 2025-09 | $265,000 | 1,728 | 32.9% |
| 325 MONMOUTH ST | 2026-04 | $275,000 | 1,760 | 31.2% |
| 3 S HARLEY AVE | 2026-03 | $225,000 | 1,608 | 47.6% |
| 323 MARKET ST | 2026-01 | $140,000 | 1,920 | 58.7% |
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