The Fair Share Report
1 Chestnut Dr
Wayne, NJ 07470
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 $691,731 – $887,421, from 12 comparable Wayne 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 Wayne assessments sit below market value — republished every October, applied town-wide. A $825,035 home should be assessed near $295,528.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $35,228 below what the ratio math suggests (11.9%).
Step 4 · The tax rate — same for every Wayne home
$3.337 Schools · 56% $1.251 County · 21% $1.409 Town · 23%
This home's own bill implies $5.902 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Wayne sale · assessed ÷ market
19%47%
Paying about right
This home's ratio lands inside Wayne'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 |
|---|---|---|---|---|
| 27 COLVILLE RD | 2026-01 | $689,000 | 2,186 | 27.4% |
| 16 HIGHLAND TERR | 2025-10 | $887,030 | 2,316 | 32.4% |
| 8 AMBOY RD | 2026-06 | $920,000 | 2,287 | 25.1% |
| 97 GREEN KNOLLS DR | 2025-09 | $900,000 | 2,336 | 27.1% |
| 5 FERNDALE RD | 2026-04 | $710,000 | 2,146 | 27.3% |
| 508 PINES LAKE DR E | 2026-06 | $750,000 | 2,242 | 30.7% |
| 109 CAROL PLACE | 2025-07 | $650,000 | 2,200 | 34.5% |
| 75 LONGPORT RD | 2026-06 | $750,000 | 2,465 | 34.2% |
| 258 TOTOWA RD | 2025-01 | $780,000 | 2,108 | 26.1% |
| 53 SUNSET TERR | 2025-08 | $760,000 | 2,463 | 34.5% |
| 40 LAKE DR E | 2025-09 | $816,000 | 2,258 | 28.4% |
| 14 ARUNDEL RD | 2025-07 | $835,000 | 2,283 | 31.0% |
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