The Fair Share Report
8 E St
Madison, NJ 07940
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
Good news — this home pays less than its share
Its assessment sits low relative to what homes like it actually sell for. An appeal would only invite a fresh look at a number working in the owner's favor.
Step 1 · Market value
Likely range $855,382 – $1,212,177, from 12 comparable Madison 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 Madison assessments sit below market value — republished every October, applied town-wide. A $998,356 home should be assessed near $601,210.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $221,010 below what the ratio math suggests (36.8%).
Step 4 · The tax rate — same for every Madison home
$1.423 Schools · 63% $0.350 County · 16% $0.481 Town · 21%
Step 5 · The bill
This home vs. every recent Madison sale · assessed ÷ market
26%77%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 53 HIGHLAND AVE | 2026-01 | $875,000 | 1,876 | 59.2% |
| 7 LEE AVE | 2026-01 | $1,160,000 | 1,737 | 52.0% |
| 150 CENTRAL AVE | 2025-09 | $1,050,000 | 2,100 | 56.6% |
| 6 VALLEY RD | 2025-04 | $1,225,000 | 1,864 | 49.9% |
| 3 DURWOOD PL | 2026-02 | $740,000 | 1,576 | 66.2% |
| 150 LOANTAKA WAY | 2025-07 | $1,085,000 | 1,937 | 54.9% |
| 18 HILLCREST RD | 2026-01 | $1,375,000 | 1,856 | 56.8% |
| 60 SHADYLAWN DR | 2025-03 | $911,000 | 1,606 | 47.4% |
| 14 SAYRE CT | 2025-07 | $730,000 | 1,690 | 65.6% |
| 35 ROSEMONT AVE | 2025-02 | $835,000 | 1,656 | 52.1% |
| 55 VALLEY RD | 2025-05 | $1,110,000 | 1,718 | 50.1% |
| 51 ALBRIGHT CIR | 2026-05 | $1,300,000 | 1,732 | 42.2% |
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