The Fair Share Report
541 E Malaga Rd
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 $380,824 – $439,040, 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 $391,901 home should be assessed near $233,064.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $28,864 below what the ratio math suggests (12.4%).
Step 4 · The tax rate — same for every Monroe home
$2.028 Schools · 54% $0.694 County · 18% $1.046 Town · 28%
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 |
|---|---|---|---|---|
| 1008 LONDON CIR | 2025-12 | $420,000 | 1,830 | 45.0% |
| 208 MIMOSA CT | 2025-07 | $435,000 | 1,946 | 50.0% |
| 1713 RED OAK RD | 2025-07 | $410,000 | 1,877 | 51.1% |
| 30 TOOL LN | 2026-02 | $345,000 | 1,844 | 51.6% |
| 1605 PIN OAK RD | 2026-01 | $399,000 | 1,900 | 43.5% |
| 101 PALMER CT | 2025-08 | $395,000 | 1,877 | 48.6% |
| 150 HILBERT ST | 2025-04 | $340,000 | 1,818 | 55.5% |
| 1204 IRIS AVE | 2025-08 | $379,000 | 1,804 | 46.0% |
| 934 HAMPTON WAY | 2025-09 | $390,000 | 2,040 | 47.4% |
| 630 GREENBRIAR DR | 2025-08 | $410,000 | 1,728 | 42.4% |
| 425 GLASGOW RD | 2025-10 | $492,000 | 1,828 | 48.4% |
| 1309 GALLOWAY CT | 2025-12 | $442,500 | 1,900 | 56.6% |
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