The Fair Share Report
7 Hoffman Rd
Mendham, NJ 07945
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 $981,480 – $1,262,836, from 12 comparable Mendham 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 Mendham assessments sit below market value — republished every October, applied town-wide. A $1,094,509 home should be assessed near $785,967.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $173,167 below what the ratio math suggests (22.0%).
Step 4 · The tax rate — same for every Mendham home
$1.661 Schools · 66% $0.302 County · 12% $0.563 Town · 22%
Step 5 · The bill
This home vs. every recent Mendham sale · assessed ÷ market
43%88%
Paying about right
This home's ratio lands inside Mendham'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 |
|---|---|---|---|---|
| 7 TEMPE WICK RD | 2026-05 | $1,177,000 | 2,361 | 44.5% |
| 17 VALLEY WAY | 2025-11 | $995,000 | 2,544 | 66.9% |
| 4 FRANKLIN RD | 2026-05 | $1,279,000 | 2,280 | 50.8% |
| 6 PHOENIX DR | 2026-03 | $930,000 | 2,240 | 58.7% |
| 18 DEAN RD | 2026-02 | $1,310,000 | 2,698 | 53.0% |
| 10 BOCKOVEN RD | 2025-11 | $849,000 | 2,304 | 63.7% |
| 17 DRAKE RD | 2026-05 | $1,480,000 | 2,562 | 41.6% |
| 3 HIGHFIELD CIR | 2025-05 | $895,000 | 2,086 | 58.3% |
| 5 HILLCREST AVE | 2025-07 | $915,000 | 2,276 | 53.7% |
| 32 DEERFIELD RD | 2026-04 | $1,100,000 | 2,429 | 52.3% |
| 51 DEAN RD | 2025-07 | $1,280,000 | 2,698 | 58.6% |
| 2 QUIMBY LN | 2025-12 | $1,080,000 | 3,105 | 73.3% |
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