The Fair Share Report
505 Spruce Ave
Pitman, NJ 08071
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 $374,613 – $480,043, from 12 comparable Pitman 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 Pitman assessments sit below market value — republished every October, applied town-wide. A $401,134 home should be assessed near $294,071.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $38,671 below what the ratio math suggests (13.2%).
Step 4 · The tax rate — same for every Pitman home
$2.089 Schools · 58% $0.582 County · 16% $0.924 Town · 26%
This home's own bill implies $3.562 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Pitman sale · assessed ÷ market
48%90%
Paying about right
This home's ratio lands inside Pitman'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 |
|---|---|---|---|---|
| 33 CEDAR AVE | 2025-12 | $423,300 | 1,821 | 69.8% |
| 18 S WOODBURY AVE | 2025-06 | $379,900 | 1,773 | 59.8% |
| 604 MCKINLEY AVE | 2025-12 | $440,000 | 1,664 | 67.0% |
| 508 ALBERT AVE | 2025-12 | $400,000 | 1,763 | 60.4% |
| 165 ESPLANADE AVE | 2025-03 | $310,000 | 1,672 | 68.5% |
| 28 S BRENTWOOD AVE | 2025-08 | $430,000 | 1,592 | 54.3% |
| 420 TUOHY AVE | 2025-11 | $430,000 | 1,604 | 56.3% |
| 39 ELM AVE | 2026-06 | $475,000 | 1,692 | 56.2% |
| 508 HUDSON AVE | 2026-03 | $389,900 | 1,634 | 58.8% |
| 534 WAYNE AVE | 2025-11 | $412,500 | 2,052 | 64.8% |
| 412 ALCYON BLVD | 2026-04 | $375,000 | 1,648 | 65.5% |
| 604 BOUNDARY RD | 2025-05 | $420,000 | 1,901 | 68.2% |
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