The Fair Share Report
41 Compass Rd
Ocean, NJ 08758
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.
The numbers support an appeal
Even at the cautious end of the range, this home's ratio clears NJ's Chapter 123 line (100.00%) — roughly $1,489/yr at stake. NJ appeals are generally due April 1.
Step 1 · Market value
Likely range $617,388 – $676,120, from 12 comparable Ocean 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 Ocean assessments sit below market value — republished every October, applied town-wide. A $661,152 home should be assessed near $611,367.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $94,333 above what the ratio math suggests (15.4%).
Step 4 · The tax rate — same for every Ocean home
$0.713 Schools · 45% $0.339 County · 21% $0.526 Town · 33%
Step 5 · The bill
This home vs. every recent Ocean sale · assessed ÷ market
68%120%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 116 DOLLMORE AVENUE | 2026-03 | $635,000 | 2,096 | 94.2% |
| 15 EAGLESWOOD DR | 2025-08 | $620,000 | 2,291 | 76.4% |
| 197 BRIGANTINE BLVD | 2026-05 | $660,000 | 2,291 | 79.5% |
| 3 BEACH HAVEN WAY | 2026-06 | $670,000 | 2,291 | 82.7% |
| 3 STRATHMERE ST | 2025-02 | $560,000 | 2,270 | 88.7% |
| 30 EAGLESWOOD DR | 2026-02 | $596,000 | 2,291 | 84.0% |
| 24 BELMAR BLVD | 2025-04 | $625,000 | 2,217 | 80.7% |
| 14 SEA BRIGHT WAY | 2025-11 | $661,000 | 2,286 | 86.5% |
| 122 BRIGANTINE BLVD | 2026-04 | $665,000 | 2,196 | 83.3% |
| 9 BRADLEY BEACH WAY | 2026-03 | $635,000 | 2,183 | 89.4% |
| 20 DEAL LN | 2026-02 | $600,000 | 2,209 | 96.4% |
| 5 BRADLEY BEACH WAY | 2025-01 | $620,000 | 2,183 | 93.5% |
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