The Fair Share Report
54 Korman Rd
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 $313,125 – $379,857, from 12 comparable Berkeley sales in the past 18 months, at this home's 1,503 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 $362,543 home should be assessed near $191,967.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $23,333 above what the ratio math suggests (12.2%).
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%74%
A touch high — worth watching
This home's ratio sits above most of Berkeley, but doesn't clear NJ's legal appeal line (60.89%).
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 20 JEANETTE ST | 2026-05 | $457,250 | 1,498 | 49.5% |
| 61 BITTERN LN | 2025-12 | $370,000 | 1,464 | 56.0% |
| 157 GUADELOUPE DR | 2025-04 | $340,000 | 1,484 | 39.6% |
| 26 GRENADA ST | 2026-05 | $240,000 | 1,440 | 52.2% |
| 3 GRENADA ST | 2025-07 | $330,000 | 1,440 | 39.5% |
| 24 WOODLAND RD | 2025-09 | $490,500 | 1,532 | 53.5% |
| 513 JAMAICA BLVD | 2026-02 | $355,000 | 1,484 | 50.9% |
| 26 FT DE FRANCE AVE | 2026-02 | $350,000 | 1,440 | 43.8% |
| 119 BARBADOS DR SOUTH | 2025-12 | $359,000 | 1,440 | 38.4% |
| 62 BARBADOS DR SOUTH | 2025-09 | $300,000 | 1,440 | 40.2% |
| 1 MARGARITA ST | 2025-08 | $357,000 | 1,440 | 37.6% |
| 62 BARBADOS DR SOUTH | 2025-08 | $235,000 | 1,440 | 51.3% |
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