The Fair Share Report
464 Cherry Ln
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 $2,406,589 – $3,455,359, from 6 comparable Mendham sales in the past 18 months, at this home's 8,060 sq ft.
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 $2,416,639 home should be assessed near $1,735,388.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $284,512 above what the ratio math suggests (16.4%).
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%89%
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 |
|---|---|---|---|---|
| 6 CROMWELL LN | 2026-06 | $2,320,000 | 7,770 | 73.3% |
| 4 COUNTY LINE RD | 2025-08 | $3,500,000 | 7,957 | 62.9% |
| 5 OAK FOREST LN | 2025-01 | $1,850,000 | 7,150 | 100.5% |
| 146 MOUNTAINSIDE RD | 2025-09 | $1,775,000 | 5,920 | 75.4% |
| 9 HORSESHOE BEND RD | 2025-04 | $2,760,000 | 6,699 | 57.6% |
| 290 MOUNTAINSIDE RD | 2026-04 | $2,300,000 | 5,365 | 53.1% |
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