The Fair Share Report
42 Laura Ave
Downe, NJ 08321
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 $175,000 – $445,000, from 10 comparable Downe sales in the past 18 months.
Step 2 · The Director's Ratio
The state's official measure of how far Downe assessments sit below market value — republished every October, applied town-wide. A $290,000 home should be assessed near $227,360.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $81,560 below what the ratio math suggests (35.9%).
Step 4 · The tax rate — same for every Downe home
$1.454 Schools · 50% $1.070 County · 37% $0.407 Town · 14%
Step 5 · The bill
This home vs. every recent Downe sale · assessed ÷ market
27%107%
Paying about right
This home's ratio lands inside Downe'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 |
|---|---|---|---|---|
| 248 COVE RD | 2025-07 | $445,000 | 1,568 | 49.6% |
| 212 NEW JERSEY AVE | 2026-03 | $345,000 | — | 57.5% |
| 94 DELAWARE AVE | 2026-02 | $450,000 | — | 64.8% |
| 256 COVE RD | 2025-06 | $290,000 | 864 | 97.5% |
| 98 DELAWARE AVE | 2026-05 | $475,000 | — | 32.8% |
| 102 GARRISON AVE | 2026-04 | $164,500 | — | 74.6% |
| 97 GARRISON AVE | 2026-03 | $135,000 | — | 80.3% |
| 208 PENNSYLVANIA AVE | 2025-05 | $180,000 | — | 82.8% |
| 227 NEW JERSEY AVE | 2025-06 | $175,000 | — | 67.3% |
| 184 LANDING RD | 2025-12 | $256,000 | — | 53.4% |
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