The Fair Share Report
470 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 $1,323,360 – $1,735,825, from 12 comparable Mendham sales in the past 18 months, at this home's 4,049 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 $1,419,113 home should be assessed near $1,019,065.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $280,935 above what the ratio math suggests (27.6%).
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%104%
A touch high — worth watching
This home's ratio sits above most of Mendham, but doesn't clear NJ's legal appeal line (82.58%).
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 49 HARDSCRABBLE RD | 2025-03 | $1,585,000 | 3,481 | 79.2% |
| 301 HILLTOP RD | 2026-05 | $1,375,000 | 4,207 | 83.6% |
| 2 FARM HOUSE LN | 2025-06 | $1,431,000 | 4,102 | 65.4% |
| 21 PLEASANT VALLEY RD | 2025-08 | $1,600,000 | 4,191 | 68.3% |
| 290 MOUNTAINSIDE RD | 2026-04 | $2,300,000 | 5,365 | 53.1% |
| 52 W MAIN ST | 2025-08 | $1,410,000 | 4,023 | 69.7% |
| 9 HORSESHOE BEND RD | 2025-04 | $2,760,000 | 6,699 | 57.6% |
| 146 MOUNTAINSIDE RD | 2025-09 | $1,775,000 | 5,920 | 75.4% |
| 7 DRAKE RD | 2025-07 | $1,210,000 | 4,350 | 70.9% |
| 27 PHOENIX DR | 2025-07 | $1,485,000 | 3,540 | 48.6% |
| 5 OAK FOREST LN | 2025-01 | $1,850,000 | 7,150 | 100.5% |
| 4 COUNTY LINE RD | 2025-08 | $3,500,000 | 7,957 | 62.9% |
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