The Fair Share Report
7 Cedar Ct
Demarest, NJ 07675
The town catches up with market prices only once a year — and only on average. This report checks whether this house's assessment kept pace.
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Good news — this home pays less than its share
Its assessment sits low relative to what homes like it actually sell for. An appeal would only invite a fresh look at a number working in the owner's favor.
Step 1 · Market value
Likely range $936,889 – $1,134,372, from 12 comparable Demarest 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 Demarest assessments sit below market value — republished every October, applied town-wide. A $1,013,035 home should be assessed near $1,027,319.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $427,319 below what the ratio math suggests (41.6%).
Step 4 · The tax rate — same for every Demarest home
$1.149 Schools · 64% $0.219 County · 12% $0.438 Town · 24%
Step 5 · The bill
This home vs. every recent Demarest sale · assessed ÷ market
47%115%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 52 EDWARD ST | 2026-04 | $1,100,000 | 1,845 | 92.9% |
| 55 STEWART ST | 2025-07 | $999,999 | 1,841 | 88.4% |
| 32 HIGHLAND AVE | 2025-12 | $999,999 | 1,903 | 88.8% |
| 17 CYPRESS PL | 2025-07 | $1,050,000 | 1,817 | 82.4% |
| 40 MEADOW ST | 2025-11 | $900,000 | 1,782 | 93.1% |
| 45 LENOX AVE | 2025-07 | $999,500 | 1,954 | 85.4% |
| 16 JOHN ST | 2025-12 | $1,175,000 | 1,750 | 78.9% |
| 93 STELFOX ST | 2025-08 | $730,000 | 1,726 | 96.3% |
| 64 PRESCOTT ST | 2025-04 | $875,000 | 1,716 | 91.7% |
| 16 SUNSET RD | 2025-01 | $750,000 | 1,704 | 95.0% |
| 98 PRESCOTT ST | 2025-12 | $1,385,000 | 2,051 | 71.2% |
| 16 POPLAR RD | 2025-05 | $1,200,000 | 2,058 | 92.6% |
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