The Fair Share Report
7 Princeton Ave
Downe, NJ 08321
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 $105,000 – $259,000, from 5 comparable Downe sales in the past 18 months.
Step 2 · The Director's Ratio
The state's official measure of how far Downe assessments sit below market value — republished every October, applied town-wide. A $208,000 home should be assessed near $163,072.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $73,128 above what the ratio math suggests (44.8%).
Step 4 · The tax rate — same for every Downe home
$1.454 Schools · 50% $1.070 County · 37% $0.407 Town · 14%
Step 5 · The bill
This home vs. every recent Downe sale · assessed ÷ market
31%230%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (90.16%) — roughly $2,143/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 211 MAPLE ST | 2025-11 | $259,000 | — | 29.0% |
| 467-469 HICKMAN AVE | 2025-12 | $208,000 | — | 68.5% |
| 18 VASSAR AVE | 2026-02 | $273,000 | — | 50.8% |
| 615 OLD BEAVER DAM RD | 2025-01 | $105,000 | 1,110 | 150.1% |
| 12 BUDNEY AVE | 2025-01 | $75,000 | — | 151.2% |
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