The Fair Share Report
75 Applegate Ave
Monroe, NJ 08831
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 $506,129 – $653,012, from 12 comparable Monroe 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 Monroe assessments sit below market value — republished every October, applied town-wide. A $584,381 home should be assessed near $314,806.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $70,106 below what the ratio math suggests (22.3%).
Step 4 · The tax rate — same for every Monroe home
$1.535 Schools · 56% $0.608 County · 22% $0.596 Town · 22%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
22%67%
Paying about right
This home's ratio lands inside Monroe'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 |
|---|---|---|---|---|
| 41 MORTON AVE | 2025-03 | $525,000 | 1,560 | 52.5% |
| 438 MADISON AVENUE | 2025-11 | $615,000 | 1,554 | 51.2% |
| 22 DREXEL TERRACE | 2025-01 | $570,000 | 1,512 | 49.3% |
| 4 COLLINS AVENUE | 2026-04 | $575,000 | 1,488 | 58.8% |
| 27 CARLTON AVENUE | 2025-09 | $510,000 | 1,525 | 55.4% |
| 46 THOMAS STREET | 2025-06 | $620,000 | 1,470 | 51.6% |
| 97A SALIX PLAZA | 2025-10 | $388,000 | 1,538 | 30.6% |
| 2 NORWOOD AVE | 2025-09 | $629,000 | 1,448 | 47.6% |
| 41 GRAND BOULEVARD | 2025-09 | $595,000 | 1,648 | 50.9% |
| 287C SUNSET CIRCLE | 2025-04 | $337,000 | 1,568 | 33.6% |
| 15 DREXEL TERRACE | 2026-06 | $627,500 | 1,659 | 48.6% |
| 13 ELLINGHAM AVENUE | 2026-04 | $655,000 | 1,505 | 47.0% |
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