The Fair Share Report
7 Howard St
Madison, NJ 08050
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 $1,055,358 – $1,244,210, 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 $1,140,395 home should be assessed near $686,746.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $216,146 below what the ratio math suggests (31.5%).
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
32%77%
Keep quiet and enjoy it
This home's assessment ratio sits below the Madison pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 56 KNOLLWOOD AVE | 2026-06 | $1,450,000 | 2,062 | 42.1% |
| 13 LONGVIEW AVE | 2025-05 | $1,011,500 | 1,875 | 59.0% |
| 150 CENTRAL AVE | 2025-09 | $1,050,000 | 2,100 | 56.6% |
| 19 HIGHVIEW TER | 2026-04 | $1,310,000 | 2,286 | 58.3% |
| 3 ARDSLEIGH DR | 2025-11 | $1,105,000 | 2,121 | 47.0% |
| 150 LOANTAKA WAY | 2025-07 | $1,085,000 | 1,937 | 54.9% |
| 35 ROSEMONT AVE | 2025-02 | $835,000 | 1,656 | 52.1% |
| 17 OVERHILL DR | 2026-02 | $805,000 | 2,168 | 61.3% |
| 6 VALLEY RD | 2025-04 | $1,225,000 | 1,864 | 49.9% |
| 5 LEE AVE | 2025-06 | $1,387,000 | 2,059 | 44.3% |
| 4 FAIRWOOD RD | 2026-02 | $875,000 | 2,184 | 73.8% |
| 20 STONEHEDGE LN | 2025-03 | $1,215,000 | 2,280 | 45.5% |
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