1007 Preakness Ave

Step 1 · Market value

Likely range $394,153 – $573,956, from 12 comparable Wayne sales in the past 18 months, at this home's 1,150 sq ft.

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 $448,440 home should be assessed near $160,631.

Step 3 · Assessed value

Set at the last town-wide revaluation and mostly frozen since. That's $30,269 above what the ratio math suggests (18.8%).

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 $5.885 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%54%

The evidence · comparable sales (SR1A usable-sale records)