The Fair Share Report
62 Eldridge Ave
Monroe, NJ 08094
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 $295,096 – $375,653, from 12 comparable Monroe 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 Monroe assessments sit below market value — republished every October, applied town-wide. A $354,309 home should be assessed near $210,708.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $47,908 below what the ratio math suggests (22.7%).
Step 4 · The tax rate — same for every Monroe home
$2.028 Schools · 54% $0.694 County · 18% $1.046 Town · 28%
This home's own bill implies $3.615 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
38%74%
Paying about right
This home's ratio lands inside Monroe'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 |
|---|---|---|---|---|
| 643 BLUE BELL RD | 2026-01 | $364,100 | 1,460 | 45.7% |
| 53 WILLIAM AVE | 2025-07 | $349,000 | 1,315 | 45.9% |
| 434 N MAIN ST | 2025-06 | $310,000 | 1,521 | 49.8% |
| 405 MAY AVE | 2025-04 | $335,000 | 1,531 | 44.0% |
| 937 LOIS DR | 2025-04 | $387,000 | 1,492 | 39.0% |
| 1871 MURRAY DR | 2026-04 | $320,000 | 1,512 | 40.5% |
| 335 WALNUT ST | 2025-05 | $290,000 | 1,252 | 50.9% |
| MAGNOLIA AVE | 2025-10 | $410,000 | 1,424 | 1.2% |
| 115 LINDALE AVE | 2025-06 | $250,000 | 1,254 | 55.3% |
| 961 LOIS DR | 2025-06 | $395,000 | 1,560 | 54.7% |
| 1729 JANVIER RD | 2025-04 | $321,000 | 1,301 | 52.1% |
| 1776 N TUCKAHOE RD | 2026-02 | $310,000 | 1,660 | 50.9% |
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