The Fair Share Report
46 Spring St
Millburn, NJ 07041
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 $1,432,568 – $1,700,298, from 12 comparable Millburn 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 Millburn assessments sit below market value — republished every October, applied town-wide. A $1,570,000 home should be assessed near $1,099,314.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $500,014 below what the ratio math suggests (45.5%).
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 $1.977 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Millburn sale · assessed ÷ market
30%86%
Keep quiet and enjoy it
This home's assessment ratio sits below the Millburn pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 92 HOBART AVENUE | 2026-04 | $1,370,000 | 2,191 | 72.6% |
| 115 HOBART AVENUE | 2025-01 | $1,685,000 | 2,359 | 73.0% |
| 103 CYPRESS STREET | 2025-07 | $1,406,000 | 2,300 | 56.0% |
| 86 CEDAR STREET | 2025-07 | $1,600,000 | 2,415 | 61.7% |
| 387 WYOMING AVENUE | 2025-02 | $1,500,000 | 2,163 | 51.8% |
| 114 SHORT HILLS AVENUE | 2025-12 | $1,330,000 | 1,920 | 65.6% |
| 232 GLEN AVENUE | 2025-12 | $1,700,000 | 2,227 | 52.0% |
| 71 STONY LANE | 2025-09 | $1,850,000 | 2,164 | 50.0% |
| 114 HOBART AVENUE | 2025-01 | $1,430,000 | 1,935 | 64.6% |
| 59 CHURCH STREET | 2025-09 | $1,100,000 | 2,174 | 54.8% |
| 139 SAGAMORE ROAD | 2025-04 | $1,530,000 | 2,250 | 55.4% |
| 66 WHITNEY ROAD | 2025-07 | $2,150,000 | 2,426 | 53.6% |
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