The Fair Share Report
5 Eighth Ave
Monroe, NJ 08831
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 $408,656 – $745,320, from 12 comparable Monroe 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 Monroe assessments sit below market value — republished every October, applied town-wide. A $689,343 home should be assessed near $371,349.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $8,549 below what the ratio math suggests (2.3%).
Step 4 · The tax rate — same for every Monroe home
$1.535 Schools · 56% $0.608 County · 22% $0.596 Town · 22%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
22%94%
Paying about right
This home's ratio lands inside Monroe'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 |
|---|---|---|---|---|
| 15 RIDGEWOOD AVENUE | 2025-01 | $500,000 | 2,038 | 62.7% |
| 730B MOUNT VERNON ROAD | 2025-02 | $425,000 | 2,040 | 34.4% |
| 727B MOUNT VERNON ROAD | 2025-08 | $417,000 | 1,937 | 37.1% |
| 38 EVERGREEN TERRACE | 2025-06 | $715,000 | 1,973 | 42.8% |
| 39 EVERGREEN TERRACE | 2025-08 | $775,000 | 2,258 | 45.8% |
| 368C METUCHEN DRIVE | 2025-07 | $320,000 | 1,911 | 34.9% |
| 1 SOUTH RHODA STREET | 2026-01 | $675,000 | 1,882 | 47.9% |
| 120 RIVER STREET | 2025-03 | $750,000 | 2,238 | 64.7% |
| 264A GLEN ROAD | 2026-04 | $549,900 | 1,853 | 24.7% |
| 1 PINE STREET | 2025-05 | $710,000 | 2,254 | 59.5% |
| 36 EVERGREEN TERRACE | 2025-04 | $805,000 | 2,248 | 46.5% |
| 18 NORTH RHODA STREET | 2025-12 | $820,000 | 2,258 | 46.8% |
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