The Fair Share Report
400 Cherry Ln
Mendham, NJ 07945
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 $737,981 – $1,341,659, from 12 comparable Mendham 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 Mendham assessments sit below market value — republished every October, applied town-wide. A $1,156,903 home should be assessed near $830,772.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $424,228 above what the ratio math suggests (51.1%).
Step 4 · The tax rate — same for every Mendham home
$1.661 Schools · 66% $0.302 County · 12% $0.563 Town · 22%
Step 5 · The bill
This home vs. every recent Mendham sale · assessed ÷ market
43%176%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (82.58%) — roughly $10,716/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 49 HARDSCRABBLE RD | 2025-03 | $1,585,000 | 3,481 | 79.2% |
| 2 COUNTY LINE RD | 2025-07 | $765,000 | — | 66.2% |
| 2 BRIDGE ST | 2025-03 | $650,000 | 2,915 | 86.3% |
| 3 NEW ST | 2026-05 | $1,342,500 | 3,134 | 49.9% |
| 44 E MAIN ST | 2025-04 | $1,275,000 | 3,137 | 60.5% |
| 301 HILLTOP RD | 2026-05 | $1,375,000 | 4,207 | 83.6% |
| 9 HAMPTON RD | 2025-01 | $1,499,000 | 3,907 | 51.4% |
| 30 E MAIN ST | 2025-05 | $550,000 | 3,172 | 104.5% |
| 2 QUIMBY LN | 2025-12 | $1,080,000 | 3,105 | 73.3% |
| 7 HALSTEAD RD | 2025-02 | $715,000 | 1,901 | 62.8% |
| 23 DRAKE RD | 2025-09 | $1,100,000 | 2,919 | 56.6% |
| 48 MAPLE AVE | 2026-05 | $1,300,000 | 2,912 | 50.3% |
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