The Fair Share Report
7 Cherry St
Hanover, NJ 07950
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 $696,911 – $838,844, from 12 comparable Hanover sales in the past 18 months, at this home's 1,612 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Hanover assessments sit below market value — republished every October, applied town-wide. A $742,975 home should be assessed near $515,550.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $109,750 below what the ratio math suggests (21.3%).
Step 4 · The tax rate — same for every Hanover home
$1.207 Schools · 59% $0.314 County · 15% $0.529 Town · 26%
Step 5 · The bill
This home vs. every recent Hanover sale · assessed ÷ market
41%85%
Paying about right
This home's ratio lands inside Hanover'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 |
|---|---|---|---|---|
| 5 CHERRY ST | 2026-05 | $835,860 | 1,612 | 48.6% |
| 30 POLHEMUS TER | 2026-03 | $775,000 | 1,696 | 50.1% |
| 13 MOUNTVIEW RD | 2025-12 | $888,800 | 1,708 | 48.6% |
| 43 CRESCENT DR | 2025-09 | $650,000 | 1,677 | 55.8% |
| 25 SALEM DR | 2025-10 | $730,000 | 1,632 | 51.5% |
| 29 ADAMS DR | 2025-12 | $737,550 | 1,706 | 51.0% |
| 21 COUNTRYWOOD DR | 2025-06 | $790,000 | 1,482 | 51.1% |
| 28 FIELDSTONE DR | 2025-10 | $725,000 | 1,573 | 50.3% |
| 48 LONGVIEW DR | 2025-07 | $800,000 | 1,480 | 51.5% |
| 21 CRESTVIEW TER | 2025-01 | $700,000 | 1,744 | 56.7% |
| 38 LONGVIEW DR | 2025-08 | $805,000 | 1,759 | 50.6% |
| 23 LOCUST DR | 2026-04 | $890,000 | 1,482 | 42.8% |
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