The Fair Share Report
514 Capri Ct
Monroe, NJ 08094
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 $338,924 – $422,863, 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 $369,541 home should be assessed near $219,766.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $31,766 below what the ratio math suggests (14.5%).
Step 4 · The tax rate — same for every Monroe home
$2.028 Schools · 54% $0.694 County · 18% $1.046 Town · 28%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
39%74%
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 |
|---|---|---|---|---|
| 1500 BRIARWOOD DR | 2025-02 | $420,000 | 1,776 | 55.0% |
| 1101 LAFAYETTE ST | 2025-11 | $395,000 | 1,768 | 60.5% |
| 998 HONEYSUCKLE RD | 2025-03 | $485,000 | 1,851 | 47.9% |
| 817 THOREAU LN | 2025-03 | $310,000 | 1,806 | 45.6% |
| 363 BRYN MAWR DR | 2025-07 | $452,250 | 1,890 | 54.5% |
| 825 THOREAU LN | 2025-10 | $320,000 | 1,655 | 49.5% |
| 906 THOREAU LN | 2025-09 | $250,000 | 1,655 | 56.5% |
| 832 ROSETREE DR | 2026-05 | $470,000 | 1,920 | 47.5% |
| 460 VIRGIN ISLAND DR | 2025-09 | $384,900 | 1,818 | 49.6% |
| 634 BARBADOS DR | 2025-06 | $318,500 | 1,499 | 49.9% |
| 425 GLASGOW RD | 2025-10 | $492,000 | 1,828 | 48.4% |
| 721 VIRGIN ISLAND DR | 2025-11 | $290,000 | 1,464 | 54.7% |
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