The Fair Share Report
56 Eighth St
Salem, NJ 08079
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 $107,493 – $194,580, from 12 comparable Salem 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 Salem assessments sit below market value — republished every October, applied town-wide. A $133,075 home should be assessed near $66,298.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $12,798 below what the ratio math suggests (19.3%).
Step 4 · The tax rate — same for every Salem home
$2.297 Schools · 27% $2.023 County · 23% $4.308 Town · 50%
Step 5 · The bill
This home vs. every recent Salem sale · assessed ÷ market
19%74%
Paying about right
This home's ratio lands inside Salem'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 |
|---|---|---|---|---|
| 194 SEVENTH ST | 2025-10 | $73,322 | 2,151 | 88.8% |
| 91 SEVENTH ST | 2025-02 | $142,000 | 1,809 | 30.9% |
| 31 UNION ST | 2025-07 | $200,000 | — | 19.7% |
| 334 CRAVEN AVE | 2025-10 | $116,000 | 1,843 | 69.1% |
| 293 PEARL ST | 2025-06 | $210,000 | 1,792 | 25.1% |
| 210 WESLEY ST | 2026-01 | $105,000 | 1,795 | 47.6% |
| 67 EIGHTH ST | 2025-12 | $210,000 | 1,857 | 22.1% |
| 200 N UNION ST | 2026-04 | $207,500 | 1,686 | 28.9% |
| 200 N UNION ST | 2025-11 | $115,000 | 1,686 | 52.2% |
| 297 PEARL ST | 2025-09 | $212,500 | 2,444 | 23.1% |
| 49-51 ELM ST | 2026-03 | $230,000 | 2,512 | 24.8% |
| 349 E BROADWAY | 2025-03 | $65,000 | 2,348 | 76.9% |
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