The Fair Share Report
53 S Third St
Salem, NJ 08079
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 $41,590 – $79,344, from 12 comparable Salem sales in the past 18 months, at this home's 668 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Salem assessments sit below market value — republished every October, applied town-wide. A $68,424 home should be assessed near $34,089.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $10,289 below what the ratio math suggests (30.2%).
Step 4 · The tax rate — same for every Salem home
$2.297 Schools · 27% $2.023 County · 23% $4.308 Town · 50%
Step 5 · The bill
This home vs. every recent Salem sale · assessed ÷ market
19%74%
Paying about right
This home's ratio lands inside Salem'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 |
|---|---|---|---|---|
| 91 YORKE ST | 2025-09 | $110,000 | 920 | 36.6% |
| 5 OLIVE ST | 2026-02 | $105,000 | 884 | 32.3% |
| 51 S THIRD ST | 2025-09 | $210,000 | 1,348 | 21.4% |
| 28 CHESTNUT ST | 2025-08 | $118,000 | 1,152 | 36.0% |
| 31 UNION ST | 2025-07 | $200,000 | — | 19.7% |
| 24 ELM ST | 2026-02 | $65,000 | 1,044 | 50.0% |
| 26 SEVENTH ST | 2026-02 | $60,000 | 1,128 | 47.0% |
| 10-10 1/2 WALNUT ST | 2025-12 | $150,000 | — | 57.2% |
| 99 CHESTNUT ST | 2025-04 | $68,750 | 1,032 | 36.5% |
| 103 HUBBELL AVE | 2025-11 | $138,000 | 862 | 17.7% |
| 103 HUBBELL AVE | 2025-03 | $50,000 | 862 | 48.8% |
| 14 SEVENTH ST | 2025-09 | $70,000 | 1,176 | 38.9% |
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