The Fair Share Report
9 E Summit 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 $520,000 – $739,000, 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 $605,000 home should be assessed near $355,740.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $102,640 below what the ratio math suggests (28.9%).
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
29%73%
Paying about right
This home's ratio lands inside Somerville'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 |
|---|---|---|---|---|
| 68 SOMERSET ST | 2025-05 | $520,000 | 1,744 | 46.7% |
| 218 W SUMMIT ST | 2025-06 | $682,000 | 1,764 | 46.1% |
| 20 THIRD ST | 2025-09 | $605,000 | 2,150 | 32.4% |
| 25 E CLIFF ST | 2025-02 | $290,000 | 2,644 | 72.3% |
| 149 W CLIFF ST | 2026-02 | $660,000 | 3,360 | 48.4% |
| 121 S BRIDGE ST | 2025-10 | $525,000 | 2,906 | 53.8% |
| 459 E MAIN ST | 2025-11 | $640,000 | 3,890 | 53.6% |
| 148 DAVENPORT ST | 2025-10 | $739,000 | 2,600 | 34.9% |
| 132 E CLIFF ST | 2025-09 | $525,000 | 1,983 | 54.4% |
| 21 W SPRING ST | 2025-03 | $485,000 | 1,292 | 53.9% |
| 25 VANDERVEER AVE. | 2025-10 | $752,000 | 2,262 | 39.9% |
| 211 E HIGH ST | 2026-01 | $838,000 | 1,766 | 42.2% |
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