The Fair Share Report
5 E View Dr
Readington, NJ 08889
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.
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Step 1 · Market value
Likely range $1,122,405 – $1,482,526, from 12 comparable Readington 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 Readington assessments sit below market value — republished every October, applied town-wide. A $1,190,054 home should be assessed near $826,254.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $85,354 below what the ratio math suggests (10.3%).
Step 4 · The tax rate — same for every Readington home
$1.708 Schools · 61% $0.506 County · 18% $0.584 Town · 21%
Step 5 · The bill
This home vs. every recent Readington sale · assessed ÷ market
45%85%
Paying about right
This home's ratio lands inside Readington'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 |
|---|---|---|---|---|
| 6 MILLSTONE LN | 2025-03 | $940,000 | 3,440 | 65.5% |
| 9 MAGRIET RD | 2025-05 | $1,175,253 | 4,066 | 67.3% |
| 14 HEATH RD | 2025-08 | $1,150,000 | 4,119 | 69.6% |
| 33 SANDERSON CT | 2026-01 | $1,215,295 | 3,375 | 62.4% |
| 17 ISAAC GRAHAM RD | 2025-07 | $1,200,000 | 4,102 | 58.6% |
| 31 ABRAHAM RD | 2026-05 | $911,000 | 2,943 | 62.6% |
| 10 HEATH RD | 2026-05 | $1,160,000 | 3,312 | 53.7% |
| 3 CREEK RD | 2025-07 | $950,000 | 3,686 | 67.5% |
| 11 NEWELL RD | 2026-02 | $1,280,000 | 4,264 | 55.7% |
| 7 NEWELL RD | 2026-06 | $1,208,000 | 4,263 | 58.4% |
| 5 CREEK RD | 2025-01 | $975,000 | 3,400 | 64.7% |
| 14 CAPTAIN'S WOODS RD | 2025-05 | $840,000 | 2,430 | 61.8% |
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