The Fair Share Report
607 Third Ave
Spring Lake, NJ 07762
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 $2,014,797 – $3,611,188, from 9 comparable Spring Lake 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 Spring Lake assessments sit below market value — republished every October, applied town-wide. A $3,291,218 home should be assessed near $3,007,186.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $250,914 above what the ratio math suggests (8.3%).
Step 4 · The tax rate — same for every Spring Lake home
$0.095 Schools · 21% $0.215 County · 47% $0.146 Town · 32%
Step 5 · The bill
This home vs. every recent Spring Lake sale · assessed ÷ market
65%167%
Paying about right
This home's ratio lands inside Spring Lake'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 |
|---|---|---|---|---|
| 2 SEAWOOD WAY | 2026-04 | $4,950,000 | 2,552 | 81.9% |
| 200 SALEM AVE | 2025-04 | $2,600,000 | 2,590 | 77.5% |
| 413 WARREN AVE | 2026-05 | $3,275,000 | 1,682 | 88.6% |
| 418 SALEM AVE | 2026-01 | $2,100,000 | 1,638 | 77.6% |
| 209 PITNEY AVE | 2026-02 | $2,700,000 | 1,433 | 100.4% |
| 207 PENNSYLVANIA AVE | 2025-03 | $2,200,000 | 1,706 | 101.8% |
| 207 TUTTLE AVE | 2026-05 | $6,150,000 | 3,399 | 70.7% |
| 2121 FOURTH AVE | 2025-05 | $2,010,000 | 1,185 | 92.6% |
| 117 MADISON AVE | 2026-05 | $8,200,000 | 3,528 | 69.5% |
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