TaxGiraffeTaxGiraffeBased on the assessment and recent comparable sales, this property appears over-assessed. We recommend appealing to a value of $353,000, for an estimated potential savings of $4,200–$5,870/year. This is an estimate from recent sales — the county board sets the final value.
| Current assessed value | $520,000 |
| Estimated true market value (comps) | $627,000 |
| Implied assessment ratio (assessed ÷ market) | 82.9% |
| Town average ratio (NJ-certified, 2026) | 56.3% |
| Common-level upper limit (avg × 1.15) | 64.7% |
Because the implied ratio (82.9%) exceeds the common-level upper limit (64.7%), the assessment is above the legal threshold and should be reduced to market value × the average ratio.
| Comparable property | Sale date | Sale price | Sq ft | $/sq ft |
|---|---|---|---|---|
| 530 Valley Road | 2024-10-30 | $675,000 | 1,446 | $467 |
| 15 Hitchcock Place | 2024-12-23 | $635,823 | 1,470 | $433 |
| 90 Elm Street | 2024-06-14 | $620,000 | 1,432 | $433 |
| 16 Orange Road | 2024-07-02 | $385,000 | 1,440 | $267 |
| 51 Northview Avenue | 2024-07-02 | $1,350,000 | 1,448 | $932 |
| Median of comparable sales | $635,823 |
Arm's-length, size-matched sales of similar homes in Montclair, from the NJ Division of Taxation SR1A sales file (living-area square footage included). Non-usable transfers are excluded.