The Fair Share Report
5 Lerro Rd
Oldmans, NJ 08067
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 $281,875 – $620,000, from 8 comparable Oldmans sales in the past 18 months.
Step 2 · The Director's Ratio
The state's official measure of how far Oldmans assessments sit below market value — republished every October, applied town-wide. A $375,000 home should be assessed near $302,588.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $80,688 below what the ratio math suggests (26.7%).
Step 4 · The tax rate — same for every Oldmans home
$1.223 Schools · 45% $1.279 County · 47% $0.197 Town · 7%
Step 5 · The bill
This home vs. every recent Oldmans sale · assessed ÷ market
30%121%
Paying about right
This home's ratio lands inside Oldmans'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 |
|---|---|---|---|---|
| 85 NEW RD | 2025-10 | $360,000 | 1,752 | 48.4% |
| 342 STRAUGHNS MILL RD | 2025-10 | $159,000 | 1,668 | 113.3% |
| 2 LERRO RD | 2025-06 | $375,000 | 1,256 | 59.2% |
| 7 NICOLE CIRCLE | 2025-09 | $620,000 | — | 80.5% |
| 8 FERRELLS LANE | 2025-09 | $281,875 | 1,248 | 68.3% |
| 52 PEDRICKTN-WOODSTN RD | 2024-12 | $400,000 | 2,282 | 79.0% |
| 2 KATIE DRIVE | 2025-06 | $699,900 | — | 76.8% |
| 2 KATIE DRIVE | 2025-03 | $600,000 | — | 89.7% |
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