The Fair Share Report
45 Pine Ter E
Millburn, NJ 07078
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 $1,077,259 – $1,518,099, from 12 comparable Millburn sales in the past 18 months, at this home's 1,601 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Millburn assessments sit below market value — republished every October, applied town-wide. A $1,173,391 home should be assessed near $821,608.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $567,192 above what the ratio math suggests (69.0%).
Step 4 · The tax rate — same for every Millburn home
$1.033 Schools · 51% $0.453 County · 22% $0.532 Town · 26%
This home's own bill implies $1.224 per $100 — well off the general rate. That usually means the town revalued since the last bill.
Step 5 · The bill
This home vs. every recent Millburn sale · assessed ÷ market
45%134%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (80.52%) — roughly $11,452/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 7 SUNSET DRIVE | 2025-07 | $965,000 | 1,682 | 65.7% |
| 31 WOODLAND ROAD | 2025-06 | $1,437,500 | 1,516 | 57.2% |
| 42 WILLOW STREET | 2025-09 | $995,000 | 1,572 | 52.3% |
| 30 SILVER SPRING ROAD | 2026-04 | $1,900,000 | 1,859 | 49.6% |
| 48 LOCUST AVENUE | 2025-12 | $1,118,000 | 1,598 | 61.4% |
| 22 REEVE CIRCLE | 2025-07 | $1,175,000 | 1,724 | 54.0% |
| 21 KILMER DRIVE | 2025-07 | $1,568,000 | 1,590 | 56.8% |
| 15 ROSEDALE AVENUE | 2025-06 | $1,158,000 | 1,580 | 51.3% |
| 436 MILLBURN AVENUE | 2025-06 | $1,056,000 | 1,602 | 55.4% |
| 819 RIDGEWOOD ROAD | 2026-05 | $1,230,000 | 1,828 | 62.7% |
| 15 CLAREMONT DRIVE | 2025-04 | $1,460,000 | 1,597 | 60.9% |
| 14 CANTERBURY LANE | 2026-04 | $1,450,000 | 1,259 | 56.4% |
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