The Fair Share Report
515 Wheaton Ave
Berkeley, NJ 08721
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 $262,987 – $394,311, from 12 comparable Berkeley sales in the past 18 months, at this home's 1,296 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Berkeley assessments sit below market value — republished every October, applied town-wide. A $352,403 home should be assessed near $186,597.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $54,703 above what the ratio math suggests (29.3%).
Step 4 · The tax rate — same for every Berkeley home
$1.213 Schools · 47% $0.582 County · 22% $0.795 Town · 31%
Step 5 · The bill
This home vs. every recent Berkeley sale · assessed ÷ market
30%97%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (60.89%) — roughly $1,417/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 335 WESTERN BLVD | 2025-07 | $400,000 | 1,326 | 45.2% |
| 94 HYANNIS ST | 2025-02 | $220,000 | 1,328 | 81.6% |
| 283 WOODHAVEN BLVD SW | 2025-09 | $475,000 | 1,290 | 42.4% |
| 265 LATIMER AVE | 2025-12 | $371,250 | 1,334 | 47.6% |
| 16 MIRADOR CT | 2026-04 | $335,000 | 1,232 | 46.3% |
| 170 PORT ROYAL DR | 2026-01 | $250,000 | 1,232 | 49.7% |
| 38 MARQUIS ST | 2026-01 | $270,000 | 1,232 | 44.0% |
| 10 AZTEC CT | 2025-11 | $272,500 | 1,232 | 43.4% |
| 3 TIVOLI ST | 2025-08 | $377,500 | 1,232 | 33.9% |
| 154 BONAIRE DR | 2026-03 | $400,000 | 1,364 | 34.3% |
| 119 HYANNIS ST | 2025-09 | $262,000 | 1,364 | 47.7% |
| 23 SANTA FE CT | 2025-06 | $415,000 | 1,364 | 44.0% |
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