The Fair Share Report
531 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 $310,689 – $358,493, 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 $317,059 home should be assessed near $188,555.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $22,555 below what the ratio math suggests (12.0%).
Step 4 · The tax rate — same for every Monroe home
$2.028 Schools · 54% $0.694 County · 18% $1.046 Town · 28%
This home's own bill implies $3.618 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
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 |
|---|---|---|---|---|
| 908 THOREAU LN | 2025-01 | $310,000 | 1,511 | 45.4% |
| 1186 GLEN HAVEN CT | 2025-12 | $317,101 | 1,527 | 47.6% |
| 621 CAMPUS DR | 2025-06 | $475,000 | 1,484 | 47.8% |
| 408 BARBADOS DR | 2025-09 | $343,000 | 1,574 | 49.8% |
| 531 ST MARTIN CT | 2025-06 | $330,000 | 1,434 | 50.3% |
| 617 ST VINCENT CT | 2026-01 | $375,000 | 1,434 | 44.7% |
| 605 ST VINCENT CT | 2025-06 | $298,000 | 1,464 | 53.9% |
| 384 BARBADOS DR | 2025-04 | $327,500 | 1,464 | 48.5% |
| 444 LONGFELLOW DR | 2025-10 | $275,000 | 1,424 | 47.8% |
| 734 VIRGIN ISLAND DR | 2026-04 | $340,000 | 1,464 | 46.7% |
| 452 LONGFELLOW DR | 2025-03 | $294,900 | 1,424 | 44.7% |
| 221 MARTINIQUE DR | 2026-06 | $313,900 | 1,576 | 48.3% |
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