The Fair Share Report
89 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 $546,667 – $616,104, 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 $576,853 home should be assessed near $310,751.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $69,951 below what the ratio math suggests (22.5%).
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%67%
Paying about right
This home's ratio lands inside Monroe'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 |
|---|---|---|---|---|
| 46 THOMAS STREET | 2025-06 | $620,000 | 1,470 | 51.6% |
| 106 MONMOUTH RD | 2026-04 | $560,000 | 1,512 | 47.6% |
| 41 DREXEL TERRACE | 2025-04 | $564,000 | 1,512 | 51.5% |
| 13 SHEFFIELD AVE | 2025-07 | $585,000 | 1,518 | 50.2% |
| 65 FOREST PARK TERRACE | 2026-02 | $635,000 | 1,524 | 46.0% |
| 56 EVERGREEN TERRACE | 2026-04 | $565,000 | 1,444 | 47.2% |
| 27 CARLTON AVENUE | 2025-09 | $510,000 | 1,525 | 55.4% |
| 45 TENTH AVENUE | 2026-02 | $580,000 | 1,416 | 51.7% |
| 3 NORWOOD AVENUE | 2025-04 | $580,000 | 1,412 | 52.7% |
| 18 DRAKE AVENUE | 2025-11 | $540,000 | 1,392 | 50.4% |
| 16 FIRST AVENUE | 2025-04 | $545,000 | 1,392 | 49.6% |
| 219N MANCHESTER LANE | 2025-11 | $257,500 | 1,486 | 21.3% |
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