The Fair Share Report
7 E St
Madison, NJ 07932
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 $729,958 – $1,015,409, from 12 comparable Madison 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 Madison assessments sit below market value — republished every October, applied town-wide. A $914,104 home should be assessed near $550,473.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $118,473 below what the ratio math suggests (21.5%).
Step 4 · The tax rate — same for every Madison home
$1.423 Schools · 63% $0.350 County · 16% $0.481 Town · 21%
Step 5 · The bill
This home vs. every recent Madison sale · assessed ÷ market
37%77%
Paying about right
This home's ratio lands inside Madison'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 |
|---|---|---|---|---|
| 3 ESTI CT | 2025-11 | $915,000 | 1,930 | 63.9% |
| 9 KLARA CT | 2026-06 | $950,000 | 2,077 | 58.8% |
| 16B LATHROP AVE | 2025-01 | $999,990 | 1,976 | 56.9% |
| 318 MAIN ST | 2025-12 | $670,000 | 1,787 | 57.1% |
| 23 WEST ST | 2026-01 | $799,000 | 2,020 | 49.9% |
| 6 HOWELL ST | 2025-10 | $1,070,000 | 2,160 | 48.4% |
| 13D CROSS ST | 2025-01 | $801,000 | 1,728 | 55.3% |
| 1 SPRING GARDEN DR | 2025-07 | $1,150,000 | 1,993 | 40.2% |
| 318 MAIN ST., UNIT 35 | 2025-07 | $640,000 | 1,657 | 60.8% |
| 21 ROLLING HILL CT | 2025-12 | $985,000 | 2,709 | 59.9% |
| 13 LONGVIEW AVE | 2025-05 | $1,011,500 | 1,875 | 59.0% |
| 5 LEE AVE | 2025-06 | $1,387,000 | 2,059 | 44.3% |
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