The Fair Share Report
5 Mitchell Ave
Franklin, NJ 07416
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 $279,788 – $405,316, from 12 comparable Franklin 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 Franklin assessments sit below market value — republished every October, applied town-wide. A $325,262 home should be assessed near $292,248.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $48,448 below what the ratio math suggests (16.6%).
Step 4 · The tax rate — same for every Franklin home
$1.327 Schools · 53% $0.422 County · 17% $0.765 Town · 30%
This home's own bill implies $2.305 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Franklin sale · assessed ÷ market
55%107%
Paying about right
This home's ratio lands inside Franklin'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 |
|---|---|---|---|---|
| 49 MABIE ST | 2026-05 | $335,000 | 1,032 | 78.4% |
| 5-7 CUMMINS ST | 2025-05 | $405,000 | 884 | 78.4% |
| 8 STERLING ST | 2025-06 | $270,000 | 852 | 100.1% |
| 49 NESTOR ST | 2025-06 | $370,000 | 1,104 | 73.8% |
| 303 RUTHERFORD AVE | 2025-06 | $310,000 | 792 | 73.5% |
| 62 HIGH ST | 2026-03 | $325,000 | 816 | 70.4% |
| 51 BUTLER ST | 2025-05 | $370,000 | 840 | 78.2% |
| 19 GREEN ST | 2025-04 | $305,000 | 1,300 | 82.1% |
| 178 MAIN ST | 2025-05 | $430,000 | 1,500 | 91.0% |
| 40 WYKER RD | 2025-06 | $295,000 | 1,092 | 82.3% |
| 285 RUTHERFORD AVE | 2025-05 | $345,000 | 946 | 81.0% |
| 52 HIGH ST | 2026-03 | $130,000 | 1,120 | 116.7% |
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