The Fair Share Report
45 S Third St
Salem, NJ 08079
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 $88,231 – $231,534, from 12 comparable Salem 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 Salem assessments sit below market value — republished every October, applied town-wide. A $118,833 home should be assessed near $59,203.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $29,303 below what the ratio math suggests (49.5%).
Step 4 · The tax rate — same for every Salem home
$2.297 Schools · 27% $2.023 County · 23% $4.308 Town · 50%
Step 5 · The bill
This home vs. every recent Salem sale · assessed ÷ market
7%74%
Paying about right
This home's ratio lands inside Salem'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 |
|---|---|---|---|---|
| 188 COOK AVE | 2025-07 | $95,000 | 1,305 | 46.5% |
| 197 PINE AVE | 2026-04 | $205,000 | 1,318 | 35.6% |
| 179 VICTORY AVE | 2025-06 | $125,000 | 1,449 | 40.1% |
| 201 CHESTNUT ST | 2026-05 | $225,000 | 1,308 | 28.2% |
| 201 CHESTNUT ST | 2025-12 | $128,500 | 1,308 | 49.3% |
| 178 COOK AVE | 2026-06 | $255,000 | 1,665 | 27.8% |
| 304 NEW MARKET ST | 2025-01 | $82,000 | 1,310 | 59.1% |
| 190 CHESTNUT ST | 2025-05 | $215,000 | 1,581 | 26.8% |
| 336 ALLEN AVE | 2025-01 | $124,500 | 1,384 | 46.3% |
| 7 DELAWARE DR | 2025-08 | $230,000 | 1,388 | 37.2% |
| 310 MORRISON AVE | 2025-06 | $50,000 | 1,380 | 107.0% |
| 207 NINTH ST | 2025-10 | $230,000 | 1,562 | 26.2% |
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