The Fair Share Report
98 Rector St
Millburn, NJ 07020
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.
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Step 1 · Market value
Likely range $1,344,431 – $1,879,368, from 12 comparable Millburn 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 Millburn assessments sit below market value — republished every October, applied town-wide. A $1,793,890 home should be assessed near $1,256,082.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $591,782 below what the ratio math suggests (47.1%).
Step 4 · The tax rate — same for every Millburn home
$1.033 Schools · 51% $0.453 County · 22% $0.532 Town · 26%
Step 5 · The bill
This home vs. every recent Millburn sale · assessed ÷ market
30%86%
Keep quiet and enjoy it
This home's assessment ratio sits below the Millburn 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 |
|---|---|---|---|---|
| 4 MEADOWBROOK ROAD | 2025-10 | $1,750,000 | 2,209 | 55.9% |
| 11 INWOOD ROAD | 2025-09 | $1,490,000 | 2,383 | 63.4% |
| 817 RIDGEWOOD ROAD | 2025-03 | $1,425,000 | 2,597 | 63.2% |
| 40 OVAL ROAD | 2025-10 | $1,350,000 | 2,218 | 65.0% |
| 26 CLAREMONT DRIVE | 2025-07 | $1,900,000 | 2,349 | 53.2% |
| 17 RAHWAY ROAD | 2025-11 | $1,550,000 | 2,241 | 50.3% |
| 100 OAKVIEW TERRACE | 2025-08 | $1,850,000 | 2,381 | 53.4% |
| 1 ELIOT PLACE | 2025-04 | $1,825,000 | 2,209 | 54.9% |
| 20 INWOOD ROAD | 2025-05 | $1,820,000 | 2,370 | 56.6% |
| 33 HARAN CIRCLE | 2026-03 | $1,887,000 | 2,364 | 48.5% |
| 96 OAKVIEW TERRACE | 2025-06 | $1,450,000 | 2,453 | 69.0% |
| 46 ELMWOOD PLACE | 2026-04 | $1,830,000 | 2,353 | 57.7% |
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