The Fair Share Report
5 E St
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.
Good news — this home pays less than its share
Its assessment sits low relative to what homes like it actually sell for. An appeal would only invite a fresh look at a number working in the owner's favor.
Step 1 · Market value
Likely range $736,643 – $998,077, from 12 comparable Madison 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 Madison assessments sit below market value — republished every October, applied town-wide. A $873,397 home should be assessed near $525,960.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $186,160 below what the ratio math suggests (35.4%).
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
29%77%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 35 ROSEMONT AVE | 2025-02 | $835,000 | 1,656 | 52.1% |
| 60 SHADYLAWN DR | 2025-03 | $911,000 | 1,606 | 47.4% |
| 14 SAYRE CT | 2025-07 | $730,000 | 1,690 | 65.6% |
| 13 LONGVIEW AVE | 2025-05 | $1,011,500 | 1,875 | 59.0% |
| 29 PINE AVE | 2025-01 | $812,500 | 1,624 | 63.3% |
| 7 LEE AVE | 2026-01 | $1,160,000 | 1,737 | 52.0% |
| 59 ALBRIGHT CIR | 2025-12 | $675,000 | 1,552 | 81.1% |
| 8 PINE TREE TER | 2025-06 | $735,000 | 1,651 | 71.4% |
| 39 WAYNE BLVD | 2025-04 | $815,000 | 1,382 | 48.4% |
| 55 VALLEY RD | 2025-05 | $1,110,000 | 1,718 | 50.1% |
| 3 DURWOOD PL | 2026-02 | $740,000 | 1,576 | 66.2% |
| 51 ALBRIGHT CIR | 2026-05 | $1,300,000 | 1,732 | 42.2% |
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