The Fair Share Report
71 Applegate St
Middletown, NJ 07701
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 $471,887 – $675,430, from 12 comparable Middletown 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 Middletown assessments sit below market value — republished every October, applied town-wide. A $493,825 home should be assessed near $485,677.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $263,923 above what the ratio math suggests (54.3%).
Step 4 · The tax rate — same for every Middletown home
$0.990 Schools · 61% $0.195 County · 12% $0.429 Town · 27%
This home's own bill implies $1.437 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Middletown sale · assessed ÷ market
81%164%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (100.00%) — roughly $4,260/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 624 HUDSON AVE | 2026-04 | $579,000 | 1,524 | 98.4% |
| 31 MONMOUTH AVE | 2026-02 | $616,000 | 1,468 | 88.0% |
| 2102 BUCKINGHAM CIR | 2026-06 | $475,000 | 1,534 | 90.2% |
| 2202 BUCKINGHAM CIR | 2026-05 | $462,000 | 1,534 | 99.7% |
| 3701 JAMES CT | 2026-05 | $502,350 | 1,534 | 86.3% |
| 402 BUCKINGHAM CIR | 2026-01 | $493,000 | 1,534 | 93.2% |
| 3503 BUCKINGHAM CIR | 2026-04 | $455,000 | 1,493 | 99.3% |
| 1 DICKINSON CT | 2025-04 | $450,000 | 1,440 | 100.8% |
| 322 THOMPSON AVE | 2026-05 | $625,000 | 1,468 | 77.3% |
| 7 HAMPTON CT | 2026-06 | $730,000 | 1,448 | 78.0% |
| 3202 LONDON CT | 2025-01 | $480,000 | 1,493 | 100.4% |
| 62 MANNING ST | 2025-03 | $750,000 | 1,449 | 101.2% |
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