The Fair Share Report
701 Third Ave
Spring Lake, NJ 07762
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.
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Step 1 · Market value
Likely range $2,534,349 – $5,863,683, from 12 comparable Spring Lake 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 Spring Lake assessments sit below market value — republished every October, applied town-wide. A $4,748,744 home should be assessed near $4,338,927.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $110,127 below what the ratio math suggests (2.5%).
Step 4 · The tax rate — same for every Spring Lake home
$0.095 Schools · 21% $0.215 County · 47% $0.146 Town · 32%
Step 5 · The bill
This home vs. every recent Spring Lake sale · assessed ÷ market
65%172%
Paying about right
This home's ratio lands inside Spring Lake'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 |
|---|---|---|---|---|
| 117 MADISON AVE | 2026-05 | $8,200,000 | 3,528 | 69.5% |
| 207 TUTTLE AVE | 2026-05 | $6,150,000 | 3,399 | 70.7% |
| 2 SEAWOOD WAY | 2026-04 | $4,950,000 | 2,552 | 81.9% |
| 305 FOURTH AVE | 2026-03 | $3,100,000 | 4,119 | 80.5% |
| 113 YORK AVE | 2025-05 | $3,850,000 | 3,527 | 101.2% |
| 200 SALEM AVE | 2025-04 | $2,600,000 | 2,590 | 77.5% |
| 11 PENNSYLVANIA AVE | 2025-04 | $5,150,000 | 3,716 | 91.9% |
| 414 ATLANTIC AVE | 2025-04 | $3,850,000 | 3,816 | 102.4% |
| 118 WARREN AVE | 2026-06 | $9,750,000 | 5,828 | 71.0% |
| 113 SALEM AVE | 2025-02 | $3,850,000 | 4,058 | 101.7% |
| 420 LUDLOW AVE | 2026-05 | $4,900,000 | 4,114 | 92.4% |
| 2009 OCEAN AVE | 2026-04 | $6,475,000 | 4,201 | 88.5% |
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