The Fair Share Report
507A Sheldon Way
Monroe, NJ 08831
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 $363,616 – $510,238, from 12 comparable Monroe 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 Monroe assessments sit below market value — republished every October, applied town-wide. A $410,921 home should be assessed near $221,363.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $42,263 below what the ratio math suggests (19.1%).
Step 4 · The tax rate — same for every Monroe home
$1.535 Schools · 56% $0.608 County · 22% $0.596 Town · 22%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
22%67%
Paying about right
This home's ratio lands inside Monroe'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 |
|---|---|---|---|---|
| 375C DURANTA PLAZA | 2025-12 | $500,000 | 1,612 | 24.5% |
| 375C DURANTA PLAZA | 2025-07 | $370,000 | 1,612 | 33.0% |
| 330B QUINTON DRIVE | 2025-03 | $470,000 | 1,612 | 27.1% |
| 474A FAIRTON DRIVE | 2025-07 | $415,000 | 1,628 | 31.1% |
| 459A DELAIR ROAD | 2025-02 | $440,000 | 1,628 | 28.6% |
| 330C QUINTON DRIVE | 2025-02 | $540,000 | 1,628 | 23.4% |
| 531A ARDMORE ROAD | 2026-05 | $337,500 | 1,612 | 34.4% |
| 249B DOREMUS DRIVE | 2025-09 | $405,000 | 1,598 | 36.2% |
| 171 OLD FORGE ROAD | 2026-02 | $530,000 | 1,596 | 59.1% |
| 29 JOHN PAUL JONES DR. | 2026-02 | $355,600 | 1,632 | 49.8% |
| 4 MOLLY PITCHER CT. | 2025-12 | $503,000 | 1,632 | 33.6% |
| 15 JOHN ADAMS COURT | 2025-06 | $449,000 | 1,632 | 38.6% |
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