The Fair Share Report
516 Rt 9 Unit P 4
Upper, NJ 08077
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.
Good news — this home pays less than its share
Its assessment sits low relative to what homes like it actually sell for. An appeal would only invite a fresh look at a number working in the owner's favor.
Step 1 · Market value
Likely range $412,005 – $774,563, from 12 comparable Upper 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 Upper assessments sit below market value — republished every October, applied town-wide. A $451,740 home should be assessed near $255,911.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $194,011 below what the ratio math suggests (75.8%).
Step 4 · The tax rate — same for every Upper home
$1.649 Schools · 72% $0.331 County · 14% $0.323 Town · 14%
Step 5 · The bill
This home vs. every recent Upper sale · assessed ÷ market
3%79%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 18 E WINTHROP AVE | 2026-04 | $1,850,000 | 1,674 | 37.4% |
| 1731 RT US 9 SO #95 | 2025-01 | $515,000 | 1,848 | 54.0% |
| 5 E SUMNER AVE | 2026-04 | $1,660,000 | 1,608 | 40.2% |
| 1731 RT US 9 SO #28 | 2026-03 | $550,000 | 2,002 | 52.2% |
| 1731 RT US 9 SO #25 | 2026-03 | $519,000 | 2,002 | 55.3% |
| 1731 RT US 9 SO #41 | 2025-07 | $480,000 | 2,002 | 62.4% |
| 1731 RT US 9 SO #28 | 2025-06 | $525,000 | 2,002 | 54.6% |
| 1731 RT US 9 SO #122 | 2025-03 | $475,000 | 2,002 | 60.4% |
| 30 E WILLARD AVE | 2026-01 | $2,500,000 | 1,507 | 32.0% |
| 8 REDWISH AVE | 2025-06 | $675,000 | 1,546 | 41.8% |
| 344 ESSEX AVE | 2026-04 | $410,000 | 1,464 | 51.8% |
| 530 NORTH SHORE RD | 2026-02 | $475,000 | 1,380 | 47.3% |
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