The Fair Share Report
408 Ridgeway St
Gloucester, NJ 08043
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 $123,857 – $237,764, from 12 comparable Gloucester City 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 Gloucester City assessments sit below market value — republished every October, applied town-wide. A $208,626 home should be assessed near $118,500.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $43,400 below what the ratio math suggests (36.6%).
Step 4 · The tax rate — same for every Gloucester City home
$1.323 Schools · 25% $0.921 County · 17% $3.048 Town · 58%
Step 5 · The bill
This home vs. every recent Gloucester City sale · assessed ÷ market
26%71%
Paying about right
This home's ratio lands inside Gloucester City'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 |
|---|---|---|---|---|
| 813 CUMBERLAND ST | 2025-05 | $230,000 | 1,230 | 55.5% |
| 173 S BURLINGTON ST | 2025-02 | $220,000 | 1,354 | 30.3% |
| 508 ESSEX ST | 2026-05 | $230,000 | 1,200 | 28.7% |
| 108 S SUSSEX ST | 2026-05 | $235,000 | 1,302 | 33.1% |
| 500 ESSEX ST | 2026-01 | $212,900 | 1,288 | 38.0% |
| 846 CUMBERLAND ST | 2025-10 | $155,000 | 1,408 | 56.3% |
| 846 CUMBERLAND ST | 2025-06 | $137,500 | 1,408 | 63.5% |
| 319 BERGEN ST | 2026-04 | $245,140 | 1,248 | 32.2% |
| 319 BERGEN ST | 2025-10 | $153,000 | 1,248 | 51.6% |
| 319 BERGEN ST | 2025-09 | $130,000 | 1,248 | 60.7% |
| 321 BERGEN ST | 2025-07 | $200,000 | 1,248 | 38.0% |
| 608 RIDGEWAY ST | 2026-01 | $215,000 | 1,197 | 39.1% |
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