The Fair Share Report
5 Drake Dr
Berkeley, NJ 07023
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 $266,909 – $417,626, from 12 comparable Berkeley 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 Berkeley assessments sit below market value — republished every October, applied town-wide. A $339,769 home should be assessed near $179,908.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $160,092 above what the ratio math suggests (89.0%).
Step 4 · The tax rate — same for every Berkeley home
$1.213 Schools · 47% $0.582 County · 22% $0.795 Town · 31%
Step 5 · The bill
This home vs. every recent Berkeley sale · assessed ÷ market
30%133%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (60.89%) — roughly $4,146/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 34 DOCKAGE RD | 2026-02 | $410,000 | 1,100 | 50.0% |
| 124 PATTON AVE | 2024-12 | $305,000 | 1,098 | 67.9% |
| 23 MALLARD RD | 2025-04 | $360,000 | 1,152 | 61.2% |
| 145 SHERMAN AVE | 2025-08 | $200,000 | 1,160 | 77.0% |
| 145 SHERMAN AVE | 2025-04 | $165,000 | 1,160 | 93.4% |
| 613 BAY BLVD | 2025-05 | $321,000 | 1,176 | 54.4% |
| 1 JOY PL | 2025-05 | $334,000 | 1,100 | 55.0% |
| 519 BAY BLVD | 2025-09 | $371,000 | 1,050 | 45.9% |
| 229 PT PLEASANT AVE | 2026-06 | $385,000 | 1,092 | 45.1% |
| 119 SHERMAN AVE | 2025-01 | $435,000 | 1,200 | 39.2% |
| 91 SHOREWOOD DR | 2025-03 | $300,000 | 1,207 | 72.4% |
| 17 GLENWOOD DR | 2025-06 | $449,900 | 1,052 | 48.6% |
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