The Fair Share Report
515 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 $345,893 – $539,361, from 12 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 $420,565 home should be assessed near $392,219.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $51,519 below what the ratio math suggests (13.1%).
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 $2.098 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
58%111%
Paying about right
This home's ratio lands inside Bound Brook'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 |
|---|---|---|---|---|
| 513 GROVE AVENUE | 2025-05 | $450,000 | 1,233 | 94.0% |
| 383 WEST HIGH STREET | 2025-05 | $520,000 | 1,098 | 98.8% |
| 542 WHEATLAND AVENUE | 2026-01 | $490,000 | 1,344 | 85.8% |
| 641 CRESCENT DRIVE | 2026-01 | $325,000 | 1,048 | 105.4% |
| 652 CRESCENT DRIVE | 2025-01 | $285,000 | 1,048 | 114.2% |
| 162 LINDEN AVENUE | 2026-03 | $379,900 | 1,250 | 101.2% |
| 283 WEST MAIN STREET | 2025-02 | $293,000 | 1,204 | 94.9% |
| 369 CHERRY AVENUE | 2025-04 | $511,000 | 1,492 | 94.6% |
| 160 LINDEN AVENUE | 2025-05 | $450,000 | 1,340 | 87.8% |
| 561 MARION STREET | 2026-06 | $600,000 | 1,260 | 79.8% |
| 107 CHESTNUT STREET | 2026-02 | $540,000 | 1,254 | 85.9% |
| 536 WASHINGTON STREET | 2025-04 | $501,000 | 1,120 | 94.4% |
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