The Fair Share Report
5 Cedar Run
Hanover, NJ 07950
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 $1,075,971 – $1,454,372, from 12 comparable Hanover 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 Hanover assessments sit below market value — republished every October, applied town-wide. A $1,287,743 home should be assessed near $893,565.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $196,865 below what the ratio math suggests (22.0%).
Step 4 · The tax rate — same for every Hanover home
$1.207 Schools · 59% $0.314 County · 15% $0.529 Town · 26%
Step 5 · The bill
This home vs. every recent Hanover sale · assessed ÷ market
41%85%
Paying about right
This home's ratio lands inside Hanover'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 |
|---|---|---|---|---|
| 55 MCNAB AVE | 2025-02 | $1,100,000 | 3,182 | 53.1% |
| 4 ASH CIR | 2026-04 | $1,415,000 | 2,956 | 42.4% |
| 64 FOREST WAY | 2025-03 | $1,225,000 | 3,633 | 52.5% |
| 10 CEDAR RUN | 2026-04 | $1,600,000 | 3,622 | 42.5% |
| 26 DAVID DR | 2025-12 | $1,450,000 | 3,300 | 51.3% |
| 9 GRISTMILL RD | 2025-06 | $1,150,100 | 2,866 | 49.5% |
| 9 EVERGREEN LN | 2026-02 | $1,350,000 | 2,729 | 43.9% |
| 4 GRISTMILL RD | 2026-06 | $999,999 | 2,804 | 54.0% |
| 77 HENDRICKS DR | 2025-06 | $1,320,000 | 3,382 | 53.7% |
| 158 CEDAR KNOLLS RD | 2025-07 | $932,000 | 2,970 | 61.4% |
| 14 HUBERT ST | 2025-01 | $1,525,000 | 3,765 | 55.5% |
| 95 POPLAR DR | 2025-01 | $1,100,000 | 3,777 | 56.7% |
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