The Fair Share Report
85 Third St
Somerville, NJ 08876
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 $462,000 – $590,000, from 12 comparable Somerville sales in the past 18 months.
Step 2 · The Director's Ratio
The state's official measure of how far Somerville assessments sit below market value — republished every October, applied town-wide. A $539,000 home should be assessed near $316,932.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $137,532 below what the ratio math suggests (43.4%).
Step 4 · The tax rate — same for every Somerville home
$2.388 Schools · 59% $0.552 County · 14% $1.138 Town · 28%
Step 5 · The bill
This home vs. every recent Somerville sale · assessed ÷ market
25%73%
Keep quiet and enjoy it
This home's assessment ratio sits below the Somerville 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 |
|---|---|---|---|---|
| 7 SOMER DRIVE | 2025-05 | $580,000 | 1,420 | 51.2% |
| 56 FIELDSTONE DRIVE | 2025-10 | $635,000 | 1,971 | 49.0% |
| 12 SCHOOLHOUSE LANE | 2025-11 | $499,000 | 1,577 | 57.4% |
| 17 PUTNAM ST | 2026-03 | $507,000 | 1,001 | 43.9% |
| 55 FAIRMONT AVE | 2025-08 | $450,000 | 1,006 | 56.1% |
| 19 CATALINA DR | 2025-01 | $580,000 | 1,951 | 52.4% |
| 484 E MAIN ST | 2026-02 | $615,000 | 2,282 | 54.2% |
| 16 HALSEY ST | 2025-07 | $445,000 | 1,000 | 51.0% |
| 20 SPEER ST | 2025-11 | $539,000 | 2,056 | 51.1% |
| 261 DAVENPORT ST | 2025-06 | $589,000 | 1,152 | 48.2% |
| 11 SEVILLE DRIVE | 2025-08 | $590,000 | 1,126 | 49.1% |
| 39 MADISON ST | 2025-11 | $462,000 | 834 | 42.5% |
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