The Fair Share Report
5 Grenada Pl
Montclair, NJ 07042
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 $914,474 – $1,114,201, from 12 comparable Montclair 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 Montclair assessments sit below market value — republished every October, applied town-wide. A $1,056,120 home should be assessed near $594,173.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $236,673 below what the ratio math suggests (39.8%).
Step 4 · The tax rate — same for every Montclair home
$2.019 Schools · 57% $0.575 County · 16% $0.922 Town · 26%
Step 5 · The bill
This home vs. every recent Montclair sale · assessed ÷ market
27%70%
Keep quiet and enjoy it
This home's assessment ratio sits below the Montclair pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 42 CAROLIN ROAD | 2026-05 | $1,320,000 | 1,764 | 48.9% |
| 601 UP. MOUNTAIN AVENUE | 2025-02 | $1,110,799 | 1,812 | 51.4% |
| 6 FRANKLIN AVENUE | 2026-06 | $755,000 | 1,680 | 44.4% |
| 5 FRANKLIN AVENUE | 2026-01 | $610,000 | 1,829 | 57.5% |
| 45 GODFREY ROAD | 2026-01 | $1,100,000 | 1,800 | 55.5% |
| 7 GRAHAM TERRACE | 2025-07 | $1,225,000 | 1,654 | 31.4% |
| 31 GRENADA PLACE | 2025-06 | $900,000 | 1,654 | 50.9% |
| 17 GARDINER PLACE | 2025-02 | $730,000 | 1,872 | 50.1% |
| 9 EMERSON PLACE | 2025-04 | $1,200,000 | 1,913 | 50.5% |
| 29 NORWOOD AVENUE | 2026-05 | $999,999 | 1,647 | 57.6% |
| 10 GRAHAM TERRACE | 2025-05 | $970,000 | 1,618 | 36.3% |
| 153 ALEXANDER AVENUE | 2025-04 | $1,400,000 | 1,814 | 46.2% |
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