The Fair Share Report
72 Second St
Somerville, NJ 08876
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 $400,000 – $755,000, from 12 comparable Somerville sales in the past 18 months.
Step 2 · The Director's Ratio
The state's official measure of how far Somerville assessments sit below market value — republished every October, applied town-wide. A $640,000 home should be assessed near $376,320.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $138,620 below what the ratio math suggests (36.8%).
Step 4 · The tax rate — same for every Somerville home
$2.388 Schools · 59% $0.552 County · 14% $1.138 Town · 28%
Step 5 · The bill
This home vs. every recent Somerville sale · assessed ÷ market
26%73%
Paying about right
This home's ratio lands inside Somerville'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 |
|---|---|---|---|---|
| 420 WILLIAM STREET | 2026-06 | $810,000 | 2,273 | 51.0% |
| 26 W BROWN ST | 2025-06 | $640,000 | 1,779 | 51.0% |
| 28 MECHANIC ST | 2025-05 | $755,000 | 1,816 | 53.7% |
| 231 GROVE ST | 2026-06 | $707,000 | 1,907 | 47.3% |
| 17-D LOESER AVENUE | 2026-04 | $400,000 | 1,190 | 38.1% |
| 48 SECOND ST | 2025-12 | $320,000 | 1,244 | 49.7% |
| 55 FAIRMONT AVE | 2025-08 | $450,000 | 1,006 | 56.1% |
| 62 S BRIDGE ST | 2025-02 | $550,000 | 2,776 | 46.2% |
| 42 EASTERN AVE | 2025-04 | $675,000 | 1,344 | 42.7% |
| 19 CATALINA DR | 2025-01 | $580,000 | 1,951 | 52.4% |
| 96 CORNELL BLVD | 2025-10 | $400,000 | 960 | 55.3% |
| 202 N BRIDGE ST | 2026-06 | $640,000 | 1,342 | 39.7% |
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