The Fair Share Report
111 Alps Rd
Wayne, NJ 07047
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 $405,033 – $522,401, from 12 comparable Wayne sales in the past 18 months, at this home's 1,060 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 $437,062 home should be assessed near $156,556.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $90,044 above what the ratio math suggests (57.5%).
Step 4 · The tax rate — same for every Wayne home
$3.337 Schools · 56% $1.251 County · 21% $1.409 Town · 23%
Step 5 · The bill
This home vs. every recent Wayne sale · assessed ÷ market
19%66%
Looks meaningfully over-assessed
Even at the generous end of the range, this home's ratio clears the Chapter 123 appeal line (41.19%) — roughly $5,401/yr at stake. NJ appeals are generally due April 1.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 31 POINT VIEW PARKWAY | 2026-02 | $450,000 | — | 31.8% |
| 33 SOUTH RD | 2025-05 | $400,000 | 1,012 | 27.8% |
| 129 TERHUNE DR | 2025-05 | $425,000 | 1,240 | 34.9% |
| 28 NEW ST | 2025-05 | $600,000 | 1,120 | 20.9% |
| 26 GRAHAM AVE | 2025-07 | $625,000 | 1,084 | 27.1% |
| 53 LAUREL DR | 2025-02 | $565,000 | 1,230 | 26.9% |
| 30 SUNSET TERR | 2025-08 | $350,000 | 1,106 | 54.8% |
| 11 RAYS CT | 2025-04 | $615,000 | 1,004 | 24.6% |
| 1002 BRITTANY DR | 2025-10 | $421,500 | 1,055 | 29.3% |
| 710 BRITTANY DR | 2025-10 | $435,000 | 1,055 | 28.4% |
| 907 BURGUNDY WAY | 2025-05 | $435,000 | 1,055 | 28.4% |
| 24 LAKE TRAIL E | 2025-06 | $625,000 | 1,286 | 23.9% |
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