481 LOCK STREET

Assessment

How the ratio works: New Jersey towns often assess below full market value. The average ratio (Director’s / Chapter 123) estimates what percent of true market value the town’s assessments represent. Implied equalized value ≈ assessed net ÷ (ratio ÷ 100). Example: assessed $187,600 at 55.89% ≈ $335,700 equalized. Tax bills still use assessed value × the general tax rate — not the equalized figure.

Change since the 2007 sale of $525,000: implied equalized value $698,263 is $173,263 above that sale. This is not an appraisal.

This class 2 — residential (four families or less) — net assessment sits above the town class-2 average of $112,824.

Building permits for 481 LOCK STREET

The New Jersey construction-permit file lists 4 permits for 481 LOCK STREET in Phillipsburg Town. 1 is still open in the state file. Permit 26-0217, an alteration, was issued 15 Apr 2026 and is open in the state file. The reported cost is $17,775.

The file does not name the work. This file is a full record from 2021 on. Older permits are mostly missing. A repair from before then can be absent here and still be at the Phillipsburg Town construction office.

Flood zone for 481 LOCK STREET

FEMA’s flood map places the mapped point for 481 LOCK STREET in zone AE.

The state’s 10-foot ground scan puts the lowest cell on this lot at 217 feet and the highest at 275.8 feet (NAVD88).

These figures are estimates. The zone and any flood elevation come from FEMA’s flood map at a point for this address, and that point can fall in the street. The high and low come from the state’s 10-foot ground scan of the lot outline. A cell can catch a ditch, the street, or the edge of the lot. They are not a survey and not an insurance rating. A licensed surveyor measures the ground and the building. The town floodplain administrator, or a licensed engineer, confirms what the zone means for this lot. No zone at this point, or zone X, does not mean the lot will not flood.

Water and sewer for 481 LOCK STREET

This lot is within the Phillipsburg STP sewer system. Please verify with the provider.

This lot is within the Aqua NJ - Phillipsburg water system. Please verify with the provider.

These lines come from the state’s sewer service areas and public community water areas, read at a point for this address. That point can fall in the street. Being inside a named area means the lot is inside that mapped system, not that a pipe or a meter is on the house. Being outside means the lot is outside the mapped service area, which is usually a septic system or a private well. It is not a hookup record. Please verify with the provider. How we read water and sewer.

Year-by-year assessed value & tax

From NJ MOD-IV files (2023, 2024, 2025, 2026). Tax is the MOD-IV billed amount when present; otherwise —. Current mailing is in Assessment above.

Assessed value & ratio history

Parcel assessed nets come from MOD-IV year files (2023, 2024, 2025, 2026). Town average ratios are from Abstract / Chapter 123 when available — implied equalized = assessed ÷ (ratio ÷ 100).

Tax year history

Assessed net is from that year’s MOD-IV file. Est. tax = assessed × that year’s general rate when we have the rate sheet. Billed tax is the MOD-IV tax field when present (often empty for the newest file year).

Where your money goes

Component $ = net × (component rate ÷ 100). Percents are share of school + county + municipal components for rate year 2025.

Of the estimated increase of $481, the school portion moved $189 up, the county portion $100 up, and the municipal portion $192 up. Those are pieces of the dollar change. They are not a change in each share of the rate.

Property details

The class, building class, SR1A, and special-tax words are the state’s names for those codes. The zoning code is the town’s. A code that is not on the state list keeps the code and says so.