The Fair Share Report
502 First Ave
Chesilhurst, NJ 08089
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 $311,412 – $392,485, from 12 comparable Chesilhurst 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 Chesilhurst assessments sit below market value — republished every October, applied town-wide. A $350,717 home should be assessed near $224,704.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $35,704 below what the ratio math suggests (15.9%).
Step 4 · The tax rate — same for every Chesilhurst home
$1.656 Schools · 35% $0.834 County · 18% $2.233 Town · 47%
Step 5 · The bill
This home vs. every recent Chesilhurst sale · assessed ÷ market
40%80%
Paying about right
This home's ratio lands inside Chesilhurst'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 |
|---|---|---|---|---|
| 428 FRANCIS AVENUE | 2025-05 | $390,400 | 1,656 | 45.6% |
| 609 FRANCIS AVENUE | 2025-11 | $359,000 | 1,692 | 54.6% |
| 111 GARFIELD AVENUE | 2025-09 | $315,000 | 1,367 | 54.6% |
| 602 FRANCIS AVENUE | 2025-05 | $317,000 | 1,866 | 56.1% |
| 55 THIRD AVENUE | 2025-11 | $281,500 | 1,200 | 53.3% |
| 509 THIRD AVENUE | 2025-12 | $328,000 | 1,854 | 61.7% |
| 620 FOURTH AVENUE | 2025-11 | $430,000 | 2,063 | 51.2% |
| 402 SIEGFRIED AVENUE | 2025-10 | $351,000 | 1,138 | 48.5% |
| 16 WHITE HORSE PIKE | 2025-09 | $140,000 | 1,416 | 105.7% |
| 310 NELSON AVENUE | 2025-01 | $335,000 | 1,056 | 46.0% |
| 214 CLEVELAND AVENUE | 2025-01 | $369,900 | 1,194 | 56.2% |
| 307 EDWARDS AVENUE | 2026-05 | $310,000 | 912 | 48.8% |
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