The Fair Share Report
8 Second St
Chatham, NJ 07928
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 $820,411 – $1,457,594, from 12 comparable Chatham 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 Chatham assessments sit below market value — republished every October, applied town-wide. A $1,184,978 home should be assessed near $991,471.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $49,071 below what the ratio math suggests (4.9%).
Step 4 · The tax rate — same for every Chatham home
$1.081 Schools · 64% $0.266 County · 16% $0.354 Town · 21%
Step 5 · The bill
This home vs. every recent Chatham sale · assessed ÷ market
56%120%
Paying about right
This home's ratio lands inside Chatham'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 |
|---|---|---|---|---|
| 16 SUMMIT AVE | 2025-01 | $770,000 | 1,762 | 83.1% |
| 20 N SUMMIT AVE | 2026-05 | $1,800,000 | 2,045 | 56.8% |
| 46 N SUMMIT AVE | 2025-07 | $1,783,000 | 2,084 | 50.9% |
| 58 N SUMMIT AVE | 2025-07 | $1,220,000 | 1,904 | 67.0% |
| 12 N HILLSIDE AVE | 2025-08 | $1,100,000 | 1,920 | 78.2% |
| 35 TALLMADGE AVE | 2026-03 | $1,575,000 | 2,006 | 55.1% |
| 80 WASHINGTON AVE | 2025-06 | $1,313,000 | 1,898 | 64.1% |
| 20 SUMMIT AVE | 2025-05 | $815,000 | 1,836 | 96.9% |
| 14 SCHINDLER CT | 2026-01 | $865,000 | 2,260 | 75.0% |
| 9 SCHINDLER CT | 2025-11 | $895,000 | 2,260 | 77.0% |
| 19 SCHINDLER CT | 2025-03 | $780,000 | 2,260 | 85.0% |
| 3 PENN TER | 2025-04 | $1,255,000 | 1,798 | 79.6% |
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