The Fair Share Report
5 Sinclair Ter
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 $2,072,147 – $3,141,388, from 12 comparable Madison 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 Madison assessments sit below market value — republished every October, applied town-wide. A $2,579,471 home should be assessed near $1,553,357.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $28,157 below what the ratio math suggests (1.8%).
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
41%79%
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 |
|---|---|---|---|---|
| 91 WOODLAND RD | 2026-04 | $2,625,000 | 5,174 | 59.6% |
| 15 NOE AVE | 2025-04 | $2,685,000 | 4,915 | 56.4% |
| 70 SAMSON AVE | 2026-05 | $2,750,000 | 4,306 | 52.7% |
| 165 MADISON AVE | 2025-06 | $1,750,000 | 4,152 | 59.3% |
| 80 NOE AVE | 2025-07 | $2,300,000 | 5,552 | 77.9% |
| 5 EAST LN | 2025-07 | $2,550,000 | 3,588 | 54.8% |
| 20 DOGWOOD DR | 2025-01 | $2,300,000 | 3,626 | 54.4% |
| 144 SHUNPIKE RD | 2025-04 | $1,451,250 | 4,585 | 67.9% |
| 393 WOODLAND RD | 2025-03 | $1,600,000 | 5,068 | 58.9% |
| 64 GREEN AVE | 2025-06 | $2,400,000 | 4,779 | 44.7% |
| 148 SHUNPIKE RD | 2025-07 | $1,950,000 | 4,505 | 54.3% |
| 5 MEADOW CT | 2026-06 | $2,175,000 | 3,564 | 50.4% |
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