The Fair Share Report
73 Mt Rascal Rd
Independence, NJ 07840
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 $377,433 – $511,288, from 12 comparable Independence 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 Independence assessments sit below market value — republished every October, applied town-wide. A $408,193 home should be assessed near $241,773.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $873 below what the ratio math suggests (0.4%).
Step 4 · The tax rate — same for every Independence home
$2.295 Schools · 60% $0.873 County · 23% $0.627 Town · 17%
Step 5 · The bill
This home vs. every recent Independence sale · assessed ÷ market
36%74%
Paying about right
This home's ratio lands inside Independence'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 |
|---|---|---|---|---|
| 121 ROUTE 46 | 2025-06 | $400,000 | 1,973 | 59.0% |
| 88 OVERLOOK DR | 2025-10 | $390,500 | 1,840 | 46.8% |
| 942 ROUTE 517 | 2025-12 | $420,000 | 1,992 | 54.0% |
| 73 OVERLOOK DR | 2025-10 | $335,000 | 1,770 | 50.6% |
| 60 OVERLOOK DR | 2025-07 | $350,000 | 1,770 | 49.7% |
| 3 ROLLING VIEW DR | 2025-07 | $480,000 | 1,809 | 47.8% |
| 22 BARKERS MILL RD | 2025-11 | $560,000 | 1,633 | 44.2% |
| 10 ROLLING VIEW DR | 2025-06 | $435,000 | 2,202 | 50.5% |
| 185 PETERSBURG RD | 2025-07 | $445,000 | 2,080 | 50.1% |
| 39 OVERLOOK DR | 2026-03 | $265,000 | 1,480 | 64.5% |
| 46 OVERLOOK DR | 2025-10 | $378,000 | 1,480 | 45.3% |
| 14 ENDICOTT DR | 2025-06 | $625,000 | 2,142 | 45.0% |
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