The Fair Share Report
5 E Ln
Madison, NJ 07940
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
This home's payments are about right
It sits inside Madison's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $1,869,737 – $2,275,896, from 12 comparable Madison sales in the past 18 months, at this home's 3,588 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Madison assessments sit below market value — republished every October, applied town-wide. A $2,039,351 home should be assessed near $1,228,097.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $169,203 above what the ratio math suggests (13.8%).
Step 4 · The tax rate — same for every Madison home
$1.423 Schools · 63% $0.350 County · 16% $0.481 Town · 21%
Step 5 · The bill
This home vs. every recent Madison sale · assessed ÷ market
41%80%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 20 DOGWOOD DR | 2025-01 | $2,300,000 | 3,626 | 54.4% |
| 24 FAIRVIEW AVE | 2026-04 | $2,310,000 | 3,367 | 45.0% |
| 96 GREENWOOD AVE | 2025-01 | $1,950,000 | 3,380 | 55.1% |
| 5 MEADOW CT | 2026-06 | $2,175,000 | 3,564 | 50.4% |
| 165 MADISON AVE | 2025-06 | $1,750,000 | 4,152 | 59.3% |
| 70 SAMSON AVE | 2026-05 | $2,750,000 | 4,306 | 52.7% |
| 58 LATHROP AVE | 2025-03 | $1,730,080 | 3,320 | 47.3% |
| 58 HAMILTON ST | 2025-08 | $1,945,000 | 3,422 | 60.3% |
| 43 HIGHLAND AVE | 2026-06 | $1,716,000 | 3,212 | 49.7% |
| 138 CENTRAL AVE | 2025-09 | $1,343,000 | 3,500 | 54.1% |
| 36 KINNEY ST | 2025-05 | $1,250,000 | 3,689 | 43.0% |
| 15 NOE AVE | 2025-04 | $2,685,000 | 4,915 | 56.4% |
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