The Fair Share Report
412 Middlesex St
Gloucester, NJ 08054
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 $134,228 – $240,441, 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 $203,812 home should be assessed near $115,765.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $54,965 below what the ratio math suggests (47.5%).
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
20%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 |
|---|---|---|---|---|
| 414 MIDDLESEX ST | 2026-05 | $199,900 | 1,078 | 33.6% |
| 704 MARKET ST | 2025-06 | $250,000 | 1,344 | 33.2% |
| 416 MIDDLESEX ST | 2025-07 | $195,000 | 954 | 28.1% |
| 416 MIDDLESEX ST | 2025-01 | $115,000 | 954 | 47.6% |
| 607 RIDGEWAY ST | 2025-06 | $240,000 | 1,213 | 52.7% |
| 228 BERGEN ST | 2025-01 | $125,000 | 1,170 | 52.8% |
| 433 MIDDLESEX ST | 2025-05 | $230,000 | 1,197 | 31.2% |
| 513-1/2 MARKET ST | 2025-10 | $225,000 | 1,338 | 35.3% |
| 234 FOURTH ST | 2025-04 | $205,000 | 1,240 | 48.3% |
| 608 RIDGEWAY ST | 2026-01 | $215,000 | 1,197 | 39.1% |
| 319 BERGEN ST | 2026-04 | $245,140 | 1,248 | 32.2% |
| 319 BERGEN ST | 2025-10 | $153,000 | 1,248 | 51.6% |
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