The Fair Share Report
45 E Main St
Mendham, NJ 07945
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 $722,546 – $1,060,994, from 12 comparable Mendham 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 Mendham assessments sit below market value — republished every October, applied town-wide. A $835,084 home should be assessed near $599,674.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $142,974 below what the ratio math suggests (23.8%).
Step 4 · The tax rate — same for every Mendham home
$1.661 Schools · 66% $0.302 County · 12% $0.563 Town · 22%
Step 5 · The bill
This home vs. every recent Mendham sale · assessed ÷ market
38%88%
Paying about right
This home's ratio lands inside Mendham'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 |
|---|---|---|---|---|
| 77 E MAIN ST | 2025-08 | $740,000 | 2,106 | 62.4% |
| 2 PEACOCK LN | 2025-11 | $775,000 | 1,909 | 65.2% |
| 47 W MAIN ST | 2025-05 | $859,000 | 1,716 | 52.9% |
| 21 E MAIN ST | 2026-04 | $657,000 | — | 77.6% |
| 5 HAMPTON RD | 2025-08 | $685,000 | 1,816 | 66.5% |
| 38 W MAIN ST | 2026-05 | $900,000 | 2,323 | 60.1% |
| 63 MOUNTAIN AVE | 2026-05 | $900,000 | 1,800 | 54.6% |
| 89 TALMAGE RD | 2026-03 | $995,000 | 1,872 | 49.1% |
| 15 LAKE DR | 2025-06 | $730,000 | 1,649 | 56.2% |
| 42 MOUNTAIN AVE | 2025-08 | $745,000 | 1,810 | 60.3% |
| 200 MOUNTAINSIDE RD | 2026-01 | $900,000 | 1,796 | 52.5% |
| 200 MOUNTAINSIDE RD | 2025-10 | $645,000 | 1,796 | 73.3% |
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