The Fair Share Report
5 Keep St
Madison, NJ 07940
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 $623,710 – $882,336, from 12 comparable Madison sales in the past 18 months, at this home's 1,267 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 $747,182 home should be assessed near $449,953.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $69,253 below what the ratio math suggests (15.4%).
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
38%77%
Paying about right
This home's ratio lands inside Madison'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 |
|---|---|---|---|---|
| 39 WAYNE BLVD | 2025-04 | $815,000 | 1,382 | 48.4% |
| 47 NILES AVE | 2026-01 | $662,600 | 1,346 | 65.1% |
| 248 GREEN VILLAGE RD | 2025-08 | $604,000 | 1,158 | 56.0% |
| 27 HOYT ST | 2025-03 | $881,000 | 1,384 | 52.5% |
| 9 NILES AVE | 2026-06 | $908,103 | 1,304 | 52.3% |
| 60 SHADYLAWN DR | 2025-03 | $911,000 | 1,606 | 47.4% |
| 35 ROSEMONT AVE | 2025-02 | $835,000 | 1,656 | 52.1% |
| 26 LATHROP AVE | 2026-01 | $675,000 | 1,014 | 56.6% |
| 63 SAMSON AVE | 2026-05 | $1,110,000 | 1,448 | 49.0% |
| 9 OVERHILL DR | 2025-10 | $1,040,000 | 1,196 | 48.8% |
| 58 ELM ST | 2025-07 | $670,000 | 1,449 | 64.8% |
| 116 RIDGEDALE AVE | 2025-05 | $940,000 | 1,092 | 49.4% |
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