The Fair Share Report
40 Mt Rascal Rd
Independence, NJ 07840
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 $269,057 – $389,158, from 12 comparable Independence 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 Independence assessments sit below market value — republished every October, applied town-wide. A $329,150 home should be assessed near $194,956.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $544 above what the ratio math suggests (0.3%).
Step 4 · The tax rate — same for every Independence home
$2.295 Schools · 60% $0.873 County · 23% $0.627 Town · 17%
Step 5 · The bill
This home vs. every recent Independence sale · assessed ÷ market
36%78%
Paying about right
This home's ratio lands inside Independence'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 |
|---|---|---|---|---|
| 5103 AUSTIN CT | 2025-11 | $265,000 | 1,204 | 45.3% |
| 5008 BRYANT DR | 2025-09 | $257,000 | 1,152 | 45.7% |
| 6307 BELMONT DR | 2025-07 | $250,000 | 1,152 | 46.7% |
| 305 TULSA CT | 2025-12 | $375,000 | 1,194 | 40.3% |
| 301 TULSA CT | 2025-11 | $336,500 | 1,194 | 45.0% |
| 302 MERCER CT | 2025-08 | $352,500 | 1,194 | 42.8% |
| 6302 BELMONT DR | 2025-10 | $230,000 | 1,139 | 50.3% |
| 39 OVERLOOK DR | 2026-03 | $265,000 | 1,480 | 64.5% |
| 46 OVERLOOK DR | 2025-10 | $378,000 | 1,480 | 45.3% |
| 64 DAYTON CT UNIT 206 | 2025-02 | $298,970 | 1,120 | 37.9% |
| 140 ROUTE 46 | 2026-05 | $380,000 | 1,196 | 41.9% |
| 4 DEER PARK RD | 2025-08 | $350,000 | 1,040 | 54.4% |
Is this your house?
Run your own report →