The Fair Share Report
7 Hoffman Rd
Monroe, NJ 08831
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 $208,242 – $324,156, from 12 comparable Monroe sales in the past 18 months, at this home's 1,092 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Monroe assessments sit below market value — republished every October, applied town-wide. A $246,612 home should be assessed near $132,850.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $82,550 above what the ratio math suggests (62.1%).
Step 4 · The tax rate — same for every Monroe home
$1.535 Schools · 56% $0.608 County · 22% $0.596 Town · 22%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
22%109%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (61.95%) — roughly $2,262/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 8A SUSSEX WAY | 2025-07 | $150,000 | 1,092 | 35.5% |
| 12A VILLAGE MALL | 2026-06 | $299,900 | 1,117 | 24.8% |
| 130D PLYMOUTH LANE | 2026-02 | $250,000 | 1,107 | 26.6% |
| 8-O SUSSEX WAY | 2026-05 | $235,000 | 1,140 | 25.0% |
| 8N SUSSEX WAY | 2025-12 | $92,500 | 1,140 | 66.9% |
| 101C DOGWOOD PLAZA | 2026-05 | $330,000 | 1,078 | 30.0% |
| 149B MACLURA PLAZA | 2025-11 | $300,000 | 1,078 | 33.1% |
| 113A INDIGO PLAZA | 2025-10 | $290,000 | 1,078 | 29.0% |
| 277-1C CROSSE DRIVE | 2025-04 | $205,000 | 1,075 | 23.7% |
| 137N PLYMOUTH LANE | 2026-05 | $229,000 | 1,150 | 22.1% |
| 160B PELHAM LANE | 2025-08 | $222,000 | 1,150 | 24.1% |
| 156N PELHAM LANE | 2025-08 | $185,000 | 1,150 | 27.3% |
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