The Fair Share Report
424 Walnut Ave
Gloucester, NJ 08030
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 $228,454 – $282,130, from 12 comparable Gloucester City sales in the past 18 months, at this home's 1,108 sq ft.
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 $262,645 home should be assessed near $149,182.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $27,082 below what the ratio math suggests (18.2%).
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 |
|---|---|---|---|---|
| 328 WALNUT AVE | 2025-04 | $275,000 | 1,080 | 52.1% |
| 1409 THOMPSON AVE | 2025-10 | $245,000 | 1,108 | 48.2% |
| 1408 ORIENTAL AVE | 2025-09 | $215,000 | 1,292 | 60.2% |
| 1408 ORIENTAL AVE | 2025-02 | $176,000 | 1,292 | 73.6% |
| 413 SOMERSET ST | 2025-11 | $379,000 | — | 15.3% |
| 1506 GASKILL AVE | 2025-08 | $334,000 | 1,272 | 49.2% |
| 1506 GASKILL AVE | 2025-05 | $190,000 | 1,272 | 86.5% |
| 607 N JOHNSON BLVD | 2025-12 | $250,000 | 1,099 | 49.8% |
| 1449 CHESTNUT AVE | 2025-10 | $344,900 | 1,455 | 46.3% |
| 1417 ORIENTAL AVE | 2025-07 | $300,000 | 1,455 | 50.1% |
| 144 EDWARDS DR | 2025-10 | $367,000 | 1,515 | 38.0% |
| 139 GEHRIG AVE | 2025-12 | $235,000 | 816 | 52.8% |
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