The Fair Share Report
505 Wheaton Ave
Berkeley, NJ 08721
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 $336,058 – $520,958, from 12 comparable Berkeley 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 Berkeley assessments sit below market value — republished every October, applied town-wide. A $421,351 home should be assessed near $223,105.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $17,695 above what the ratio math suggests (7.9%).
Step 4 · The tax rate — same for every Berkeley home
$1.213 Schools · 47% $0.582 County · 22% $0.795 Town · 31%
Step 5 · The bill
This home vs. every recent Berkeley sale · assessed ÷ market
30%77%
Paying about right
This home's ratio lands inside Berkeley'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 |
|---|---|---|---|---|
| 253 WESTBROOK DR | 2025-02 | $382,400 | 1,514 | 34.1% |
| 24 RUTLAND DR | 2026-04 | $339,000 | 1,494 | 39.2% |
| 10 SEVILLE PL | 2026-05 | $245,000 | 1,531 | 53.0% |
| 12 LONGPORT AVE | 2025-11 | $715,000 | 1,452 | 49.0% |
| 5 RODHOS ST | 2026-03 | $425,000 | 1,440 | 49.1% |
| OCEAN & 22ND AVE | 2025-04 | $807,500 | 1,504 | 55.1% |
| 145 PORT ROYAL DR | 2025-04 | $335,000 | 1,440 | 41.0% |
| 56 HICKORY LN | 2026-05 | $360,000 | 1,552 | 67.7% |
| 44 WESTPORT DR | 2025-09 | $365,000 | 1,514 | 35.5% |
| 103 SHEEPSHEAD DR | 2025-03 | $434,900 | 1,514 | 31.7% |
| 12 NELSON CT | 2026-01 | $420,000 | 1,580 | 44.4% |
| 427 HARDING AVE | 2025-06 | $509,000 | 1,480 | 47.5% |
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