The Fair Share Report
512 E Second St
Bound Brook, NJ 08805
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 $163,578 – $215,613, from 5 comparable Bound Brook 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 Bound Brook assessments sit below market value — republished every October, applied town-wide. A $213,458 home should be assessed near $199,071.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $61,529 above what the ratio math suggests (30.9%).
Step 4 · The tax rate — same for every Bound Brook home
$1.107 Schools · 50% $0.345 County · 16% $0.753 Town · 34%
This home's own bill implies $2.073 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Bound Brook sale · assessed ÷ market
72%165%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (100.00%) — roughly $1,357/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 44 ROMNEY ROAD | 2025-03 | $300,000 | 1,040 | 109.4% |
| 615 THOMPSON AVENUE | 2025-04 | $330,000 | 928 | 93.6% |
| 687 CRESCENT DRIVE | 2026-03 | $350,000 | 992 | 94.4% |
| 535 MARION STREET | 2025-05 | $434,700 | 700 | 102.5% |
| 652 CRESCENT DRIVE | 2025-01 | $285,000 | 1,048 | 114.2% |
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