The Fair Share Report
557 Devon St
Kearny, NJ 07110
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 $939,233 – $1,103,843, from 12 comparable Kearny sales in the past 18 months, at this home's 4,104 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Kearny assessments sit below market value — republished every October, applied town-wide. A $1,016,321 home should be assessed near $163,424.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $34,724 below what the ratio math suggests (21.2%).
Step 4 · The tax rate — same for every Kearny home
$5.124 Schools · 47% $1.917 County · 18% $3.806 Town · 35%
Step 5 · The bill
This home vs. every recent Kearny sale · assessed ÷ market
6%24%
Keep quiet and enjoy it
This home's assessment ratio sits below the Kearny pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 215 SEELEY AVE | 2025-07 | $1,050,000 | 4,240 | 13.2% |
| 563 CHESTNUT ST | 2025-09 | $865,000 | 3,216 | 12.7% |
| 28 RUTLAND AVE | 2025-02 | $875,000 | 3,742 | 14.0% |
| 400 CHESTNUT ST | 2025-01 | $760,000 | 2,798 | 17.1% |
| 616 CHESTNUT ST | 2025-10 | $700,000 | 3,150 | 15.3% |
| 164 WILSON AVE | 2025-08 | $770,000 | 3,576 | 13.0% |
| 61 MAPLE ST | 2025-09 | $735,000 | 3,102 | 12.8% |
| 78-80 IVY ST | 2025-01 | $1,170,000 | 3,348 | 15.0% |
| 39 PLEASANT PL | 2025-11 | $1,050,000 | 4,588 | 15.2% |
| 431 FOREST ST | 2026-06 | $1,240,000 | 3,266 | 16.8% |
| 229 BRIGHTON AVE | 2026-03 | $730,000 | 2,936 | 17.8% |
| 179-181 DEVON ST | 2026-06 | $900,000 | 3,626 | 17.0% |
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