The Fair Share Report
405 E 3rd Ave
Runnemede, NJ 08078
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 Runnemede's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $224,816 – $340,905, from 12 comparable Runnemede 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 Runnemede assessments sit below market value — republished every October, applied town-wide. A $249,155 home should be assessed near $136,911.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $15,011 below what the ratio math suggests (11.0%).
Step 4 · The tax rate — same for every Runnemede home
$2.421 Schools · 51% $0.953 County · 20% $1.406 Town · 29%
Step 5 · The bill
This home vs. every recent Runnemede sale · assessed ÷ market
30%70%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 415 CENTER AVE | 2025-09 | $325,000 | 1,112 | 45.2% |
| 117 PINE AVE | 2025-05 | $295,000 | 1,118 | 37.3% |
| 880 ORCHARD AVE | 2025-01 | $228,000 | 1,122 | 55.4% |
| 23 BOWERS AVE | 2025-08 | $241,000 | 1,189 | 48.7% |
| 327 BOWERS AVE | 2025-05 | $265,000 | 1,198 | 44.1% |
| 221 CHESTNUT ST | 2025-08 | $300,000 | 1,224 | 42.2% |
| 424 CENTER AVE | 2025-10 | $320,000 | 1,008 | 38.5% |
| 411 CENTER AVE | 2026-03 | $205,000 | 1,267 | 64.7% |
| 17 BOWERS AVE | 2026-04 | $232,500 | 1,248 | 53.6% |
| 17 BOWERS AVE | 2026-02 | $179,500 | 1,248 | 69.4% |
| 4 PAYNE AVE | 2025-06 | $310,000 | 984 | 38.8% |
| 12 E 10TH AVE | 2025-10 | $252,000 | 1,276 | 50.8% |
Is this your house?
Run your own report →