Hello J,

I applaud your efforts to educate yourself about the market as far as your homes value is concerned, but...Would you really feel confident in the accuracy of an estimate based on a two line description? A homes assesed value does not take into account sales trends in your area. As you know Glen Rock and Ridgewood are dynamic areas that have remained very desireable to buyers moving up to better schools with access to the train to NYC. Take the time to invite a local realtor to your home and get a full market value analysis of your property. My office is in Washington Township, send me an e-mail if you would like to discuss this further. royalow@msn.com

Good Luck,

Roy

Perhaps we should clear something up. I assume your house is in Glen Rock New Jersey.
The Real Estate taxes are set by the TOWN based upon what is called the "tax assesment" The tax assesment is made by an indipendant firm engaged by the town to assess the values of all properties in the town as at a certain date. At the point in time that the assessment was done that is the value of the house but thereafter has little or no relevance to the current value (typically assesments are done every 10 years). Every year the town sets a "tax rate" which is a multiplier for the assessed rate. Thus 2 houses with the same assessed rate will continue to have roughly the same taxes for the ensuing years.
So your house should be worth roughly the same as a house that has sold recently which has similar taxes. (As long as neither house has had any substantial additions or updates)

Without really looking at your home it would be hard to tell. however saying this our current tax bill just casme out. The state gives you a rough estimate on what they think your home is worth and that price is usually about 80-90% of your value. Hope this helps.
Feel free to visit my website and look at the mls though it and look in your area for the same style home as yours. Again I would have to really see your home to give you the best response.
David Leventhal
Coldwell Banker Previews http://www.floridahomes.cc

To be honest with you it would be virtualy impossible to give you an accurate value for your house without further information There is a house for sale on Prospect at the moment for $379,000 but it has 4 bedrooms. If yours only has 2 bedrooms then its doubtful that it would be worth as much but then without looking at yours we cannot be specific.
If you would like a better assesment then drop me an email and I will be happy to come over - no obligation