The Fair Share Report
7 Applegate Rd
Springfield, NJ 08041
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.
Not enough sales for an honest verdict
Too few comparable recent sales in Springfield to judge fairly — so we won't guess. The town's current median assessment ratio is 48.5%.
Step 2 · The Director's Ratio
The state's official measure of how far Springfield assessments sit below market value — republished every October, applied town-wide.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since.
Step 4 · The tax rate — same for every Springfield home
$1.943 Schools · 58% $0.554 County · 16% $0.874 Town · 26%
Step 5 · The bill
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 1284 OLD YORK ROAD | 2025-10 | $720,000 | 3,369 | 48.5% |
| 2582 MONMOUTH ROAD | 2025-09 | $850,000 | 3,147 | 44.6% |
| 113 PADDOCK DRIVE | 2025-05 | $899,000 | 3,535 | 53.1% |
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