The Fair Share Report
48 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 $1,013,345 – $1,596,785, 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 $1,274,852 home should be assessed near $892,651.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $407,551 below what the ratio math suggests (45.7%).
Step 4 · The tax rate — same for every Millburn home
$1.033 Schools · 51% $0.453 County · 22% $0.532 Town · 26%
Step 5 · The bill
This home vs. every recent Millburn sale · assessed ÷ market
25%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 |
|---|---|---|---|---|
| 16 DUNCAN STREET | 2025-06 | $1,700,000 | 2,079 | 70.5% |
| 451 WYOMING AVENUE | 2025-01 | $1,121,000 | 1,956 | 58.3% |
| 422 MILLBURN AVENUE | 2025-05 | $1,100,000 | 1,686 | 43.7% |
| 114 MYRTLE AVENUE | 2025-08 | $898,000 | 1,890 | 68.3% |
| 10 RAWLEY PLACE | 2025-07 | $1,558,000 | 1,925 | 51.7% |
| 57 ELMWOOD PLACE | 2025-06 | $1,523,999 | 1,932 | 57.7% |
| 8 WILLOW STREET | 2025-07 | $800,000 | 2,067 | 70.5% |
| 241 MAIN STREET | 2025-02 | $735,000 | 1,700 | 72.6% |
| 114 SHORT HILLS AVENUE | 2025-12 | $1,330,000 | 1,920 | 65.6% |
| 82 STONY LANE | 2026-02 | $1,450,000 | 1,941 | 62.0% |
| 60 SOUTHERN SLOPE DRIVE | 2025-08 | $1,410,000 | 1,798 | 57.4% |
| 21 NORWOOD TERRACE | 2025-04 | $1,135,000 | 1,742 | 61.6% |
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