The Fair Share Report
508 Boundary Rd
Pitman, NJ 08071
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
A touch high — but not appeal-worthy
Above most of Pitman, but below NJ's legal appeal line (84.31%), where a case becomes winnable.
Step 1 · Market value
Likely range $435,406 – $510,720, from 12 comparable Pitman sales in the past 18 months, at this home's 2,251 sq ft.
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 $468,958 home should be assessed near $343,793.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $12,907 above what the ratio math suggests (3.8%).
Step 4 · The tax rate — same for every Pitman home
$2.089 Schools · 58% $0.582 County · 16% $0.924 Town · 26%
Step 5 · The bill
This home vs. every recent Pitman sale · assessed ÷ market
50%90%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 503 HUDSON AVE | 2025-02 | $436,000 | 2,134 | 68.2% |
| 178 ESPLANADE AVE | 2025-12 | $420,000 | 2,016 | 75.0% |
| 129 MAGNOLIA AVE | 2025-07 | $375,000 | 1,960 | 70.7% |
| 103 N BRENTWOOD AVE | 2026-03 | $540,000 | 2,235 | 55.1% |
| 413 COLUMBIA AVE | 2026-04 | $412,500 | 1,952 | 55.3% |
| 448 LAKE AVE | 2025-11 | $499,750 | 2,589 | 65.1% |
| 534 WAYNE AVE | 2025-11 | $412,500 | 2,052 | 64.8% |
| 604 BOUNDARY RD | 2025-05 | $420,000 | 1,901 | 68.2% |
| 612 HOWARD AVE | 2025-07 | $500,000 | 2,435 | 71.9% |
| 205 ADAMS AVE | 2026-03 | $556,000 | 2,079 | 60.9% |
| 319 COLUMBIA AVE | 2025-06 | $494,000 | 2,118 | 61.3% |
| 300 POPLAR AVE | 2025-07 | $465,000 | 2,404 | 71.5% |
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