The Fair Share Report
79 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 $160,781 – $259,913, from 12 comparable Monroe sales in the past 18 months, at this home's 686 sq ft.
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 $183,112 home should be assessed near $98,642.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $107,858 above what the ratio math suggests (109.3%).
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%134%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (61.95%) — roughly $2,955/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 35 MONMOUTH ROAD | 2025-10 | $375,000 | 784 | 49.5% |
| 40 E SHERMAN ST | 2026-05 | $550,000 | 936 | 41.6% |
| 42 E SHERMAN ST | 2025-06 | $450,000 | 936 | 44.7% |
| 277-3B CROSSE DRIVE | 2025-01 | $186,000 | 775 | 25.4% |
| 393O NEWPORT WAY | 2026-01 | $196,000 | 768 | 16.8% |
| 469O NEW HAVEN WAY | 2025-09 | $165,750 | 768 | 19.9% |
| 406O OXFORD LANE | 2025-09 | $205,000 | 768 | 17.7% |
| 435O NEWPORT WAY | 2025-07 | $180,000 | 768 | 20.1% |
| 132A BALSAM PLAZA | 2026-03 | $270,000 | 805 | 21.9% |
| 65C ESSEX ROAD | 2025-06 | $200,000 | 805 | 31.3% |
| 125A ADLER PLAZA | 2025-03 | $115,000 | 805 | 51.6% |
| 205A NEWPORT ROAD | 2026-05 | $305,000 | 805 | 21.0% |
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