The Fair Share Report
403 Stockton Loop
Monroe, NJ 08094
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
This home's payments are about right
It sits inside Monroe's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $512,652 – $593,447, 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 $531,386 home should be assessed near $316,015.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $48,115 below what the ratio math suggests (15.2%).
Step 4 · The tax rate — same for every Monroe home
$2.028 Schools · 54% $0.694 County · 18% $1.046 Town · 28%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
39%74%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 640 IRONWOOD DR | 2026-03 | $510,000 | 2,264 | 49.9% |
| 317 PICKWICK DR | 2025-05 | $540,000 | 2,276 | 53.6% |
| 1686 CARRIAGE DR | 2026-05 | $600,000 | 2,393 | 48.0% |
| 2307 SUNNYHILL AVE | 2025-10 | $468,000 | 2,408 | 61.7% |
| 501 STOCKTON DR | 2026-05 | $580,000 | 2,410 | 48.5% |
| 420 HUNTINGDON DR | 2025-08 | $515,000 | 2,328 | 53.2% |
| 420 HUNTINGDON DR | 2025-04 | $420,000 | 2,328 | 65.2% |
| 1839 CORNUS CT | 2025-06 | $530,000 | 2,325 | 52.3% |
| 708 CHERRY BLOSSOM RD | 2025-07 | $525,000 | 2,302 | 54.7% |
| 1430 CORKERY LN | 2025-12 | $680,000 | 2,485 | 50.8% |
| 1116 LAFAYETTE ST | 2025-07 | $500,000 | 2,489 | 53.3% |
| 808 KRISTIN LN | 2025-06 | $625,000 | 2,326 | 51.9% |
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