The Fair Share Report
58 Thackeray Dr
Millburn, NJ 07078
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
This home's payments are about right
It sits inside Millburn's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $1,130,271 – $1,774,218, from 12 comparable Millburn 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 Millburn assessments sit below market value — republished every October, applied town-wide. A $1,623,916 home should be assessed near $1,137,066.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $25,834 above what the ratio math suggests (2.3%).
Step 4 · The tax rate — same for every Millburn home
$1.033 Schools · 51% $0.453 County · 22% $0.532 Town · 26%
Step 5 · The bill
This home vs. every recent Millburn sale · assessed ÷ market
45%108%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 50A WILLOW STREET | 2025-07 | $1,200,000 | 2,275 | 61.8% |
| 139 SAGAMORE ROAD | 2025-04 | $1,530,000 | 2,250 | 55.4% |
| 232 GLEN AVENUE | 2025-12 | $1,700,000 | 2,227 | 52.0% |
| 34 PINE TERRACE EAST | 2025-06 | $1,250,000 | 2,324 | 67.4% |
| 46 ELMWOOD PLACE | 2026-04 | $1,830,000 | 2,353 | 57.7% |
| 20 INWOOD ROAD | 2025-05 | $1,820,000 | 2,370 | 56.6% |
| 71 STONY LANE | 2025-09 | $1,850,000 | 2,164 | 50.0% |
| 7 WILLOW STREET | 2025-06 | $850,000 | 2,122 | 64.7% |
| 20 BODWELL TERRACE | 2025-07 | $1,225,000 | 2,266 | 67.8% |
| 70 WELLINGTON AVENUE | 2025-07 | $1,550,000 | 2,121 | 68.5% |
| 105 MOUNTAINVIEW ROAD | 2025-10 | $1,300,000 | 2,108 | 59.2% |
| 2361/2 OLD SHORT HILLS RD | 2026-03 | $2,100,000 | 2,493 | 56.9% |
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