The Fair Share Report
782B Risley Rd
Monroe, NJ 08535
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 $325,821 – $381,130, 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 $347,614 home should be assessed near $187,260.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $94,460 below what the ratio math suggests (50.4%).
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
19%67%
Keep quiet and enjoy it
This home's assessment ratio sits below the Monroe pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 575A OLD NASSAU ROAD | 2025-01 | $397,000 | 1,312 | 29.8% |
| 4B JAMES POLK COURT | 2026-06 | $350,000 | 1,320 | 30.7% |
| 5A HILLSBOROUGH DR | 2026-02 | $345,000 | 1,320 | 33.3% |
| 20A DORCHESTER DRIVE | 2025-10 | $375,000 | 1,320 | 31.4% |
| 2B SURREY COURT | 2025-09 | $355,000 | 1,320 | 30.3% |
| 59A YORKSHIRE DR | 2025-09 | $318,294 | 1,320 | 33.8% |
| 26B DANIEL WEBSTER AVE | 2025-04 | $390,000 | 1,320 | 32.0% |
| 25A JAMES BUCHANAN DR | 2025-02 | $350,000 | 1,320 | 30.8% |
| 517B HAZEN ROAD | 2025-08 | $370,000 | 1,288 | 27.8% |
| 32 RUTLAND LANE | 2025-08 | $407,000 | 1,302 | 37.9% |
| 3D RUTLAND LANE | 2026-01 | $325,000 | 1,296 | 29.9% |
| 38-I RUTLAND LANE | 2025-12 | $270,000 | 1,296 | 35.6% |
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