The Fair Share Report
5 Cove Dr
Ocean, NJ 08758
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 $347,691 – $509,105, from 12 comparable Ocean 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 Ocean assessments sit below market value — republished every October, applied town-wide. A $413,097 home should be assessed near $381,991.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $132,609 above what the ratio math suggests (34.7%).
Step 4 · The tax rate — same for every Ocean home
$0.713 Schools · 45% $0.339 County · 21% $0.526 Town · 33%
This home's own bill implies $1.529 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Ocean sale · assessed ÷ market
68%153%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (100.00%) — roughly $2,093/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 103 DOVER COURT | 2025-07 | $385,000 | 1,160 | 77.3% |
| 109 CALDWELL ROAD | 2026-02 | $467,000 | 1,088 | 94.8% |
| 17 LONG JOHN SILVER WAY | 2025-10 | $645,000 | 1,306 | 86.0% |
| 21 PEG LEG WAY | 2026-02 | $625,000 | 1,327 | 88.2% |
| 30 NAUTILUS ROAD | 2025-09 | $380,000 | 1,224 | 68.4% |
| 76 POPLAR STREET | 2026-02 | $360,000 | 1,170 | 69.1% |
| 85 HOLLY DRIVE | 2025-01 | $350,000 | 1,229 | 86.1% |
| 12 ONE EYE WAY | 2025-07 | $550,000 | 1,396 | 105.1% |
| 16 DAVEY JONES WAY | 2026-04 | $600,000 | 1,402 | 92.0% |
| 111 THIRD STREET | 2025-06 | $370,000 | 996 | 72.0% |
| 17 PENNSYLVANIA AVENUE | 2026-05 | $407,000 | 1,368 | 80.4% |
| 305 FOURTH STREET | 2025-04 | $320,000 | 1,296 | 81.1% |
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