The Fair Share Report
46 E Main St
Mendham, NJ 07945
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
This home's payments are about right
It sits inside Mendham's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $895,146 – $1,068,028, 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 $1,004,718 home should be assessed near $721,488.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $171,388 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
43%88%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 3 NEW ST | 2026-05 | $1,342,500 | 3,134 | 49.9% |
| 2 BRIDGE ST | 2025-03 | $650,000 | 2,915 | 86.3% |
| 77 E MAIN ST | 2025-08 | $740,000 | 2,106 | 62.4% |
| 2 PEACOCK LN | 2025-11 | $775,000 | 1,909 | 65.2% |
| 10 BOCKOVEN RD | 2025-11 | $849,000 | 2,304 | 63.7% |
| 4 FRANKLIN RD | 2026-05 | $1,279,000 | 2,280 | 50.8% |
| 6 PHOENIX DR | 2026-03 | $930,000 | 2,240 | 58.7% |
| 42 MOUNTAIN AVE | 2025-08 | $745,000 | 1,810 | 60.3% |
| 5 HILLCREST AVE | 2025-07 | $915,000 | 2,276 | 53.7% |
| 7 TEMPE WICK RD | 2026-05 | $1,177,000 | 2,361 | 44.5% |
| 89 TALMAGE RD | 2026-03 | $995,000 | 1,872 | 49.1% |
| 17 VALLEY WAY | 2025-11 | $995,000 | 2,544 | 66.9% |
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