The Fair Share Report
55 Spring Brook Rd
Morris, NJ 07960
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.
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Step 1 · Market value
Likely range $1,739,099 – $3,103,278, from 12 comparable Morris 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 Morris assessments sit below market value — republished every October, applied town-wide. A $2,372,936 home should be assessed near $1,731,769.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $79,031 above what the ratio math suggests (4.6%).
Step 4 · The tax rate — same for every Morris home
$1.147 Schools · 58% $0.303 County · 15% $0.517 Town · 26%
Step 5 · The bill
This home vs. every recent Morris sale · assessed ÷ market
50%110%
Paying about right
This home's ratio lands inside Morris'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 |
|---|---|---|---|---|
| 3 CARRINGTON WAY | 2026-02 | $1,175,000 | — | 66.1% |
| 13 EAST COVE LN | 2025-09 | $1,450,000 | 6,095 | 75.6% |
| 6 HOWLAND TER | 2026-05 | $1,200,000 | 4,295 | 61.4% |
| 182 WASHINGTON VALLEY RD | 2026-02 | $2,600,000 | 6,939 | 69.3% |
| 183 LAKE RD | 2026-04 | $1,999,000 | 4,175 | 84.4% |
| 16 HILLTOP CIR | 2025-04 | $1,900,000 | 6,276 | 74.8% |
| 4 STRATFORD CT | 2025-03 | $2,200,000 | 4,014 | 57.3% |
| 70 KETCH RD | 2026-02 | $1,400,000 | — | 70.3% |
| 12 EAGLE NEST RD | 2025-07 | $1,550,000 | 4,362 | 58.6% |
| 29 KITCHELL RD | 2025-11 | $2,650,000 | 6,870 | 75.8% |
| 18 WOODRUFF RD | 2025-10 | $1,800,000 | 3,856 | 56.6% |
| 5 JONATHAN SMITH RD | 2025-10 | $1,635,000 | 5,547 | 68.2% |
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