The Fair Share Report
400A Millburn Ave
Millburn, NJ 07041
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.
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Step 1 · Market value
Likely range $1,378,779 – $1,937,641, from 12 comparable Millburn 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 Millburn assessments sit below market value — republished every October, applied town-wide. A $1,714,086 home should be assessed near $1,200,203.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $451,403 below what the ratio math suggests (37.6%).
Step 4 · The tax rate — same for every Millburn home
$1.033 Schools · 51% $0.453 County · 22% $0.532 Town · 26%
Step 5 · The bill
This home vs. every recent Millburn sale · assessed ÷ market
33%86%
Keep quiet and enjoy it
This home's assessment ratio sits below the Millburn pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 420 MILLBURN AVENUE | 2025-05 | $1,750,000 | 2,484 | 42.0% |
| 50A WILLOW STREET | 2025-07 | $1,200,000 | 2,275 | 61.8% |
| 69A MECHANIC STREET | 2025-10 | $1,287,000 | 2,518 | 60.2% |
| 72 MYRTLE AVENUE | 2025-12 | $2,430,000 | 2,764 | 58.0% |
| 40 WINDING WAY | 2025-06 | $1,875,000 | 2,680 | 59.2% |
| 19A OCEAN STREET | 2026-05 | $1,285,000 | 1,962 | 63.0% |
| 8 WOODSTONE CIRCLE | 2026-03 | $1,929,000 | 3,098 | 66.6% |
| 96 OAKVIEW TERRACE | 2025-06 | $1,450,000 | 2,453 | 69.0% |
| 35 CHURCH STREET | 2026-02 | $1,540,000 | 2,627 | 51.0% |
| 272 GLEN AVENUE | 2026-05 | $2,000,000 | 2,460 | 37.7% |
| 86 ELM STREET | 2025-05 | $1,910,000 | 2,464 | 49.8% |
| 24 FARLEY ROAD | 2025-06 | $1,950,000 | 2,428 | 66.8% |
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