The Fair Share Report
115 Alps Rd
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 $433,387 – $623,109, 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 $542,951 home should be assessed near $194,485.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $73,785 below what the ratio math suggests (37.9%).
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 $5.791 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
14%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 |
|---|---|---|---|---|
| 10 LAKE TRAIL E | 2026-06 | $550,000 | 1,116 | 25.4% |
| 28 NEW ST | 2025-05 | $600,000 | 1,120 | 20.9% |
| 153 RYERSON AVE | 2025-06 | $475,000 | 1,404 | 27.5% |
| 53 LAUREL DR | 2025-02 | $565,000 | 1,230 | 26.9% |
| 104 OLDHAM RD | 2025-08 | $530,000 | 1,373 | 26.0% |
| 78 MAPLE LANE | 2026-05 | $650,000 | 1,378 | 35.3% |
| 35 LENAPE TRAIL | 2025-06 | $560,000 | 1,287 | 27.8% |
| 33 SOUTH RD | 2025-05 | $400,000 | 1,012 | 27.8% |
| 20 FERN RIVER AVE | 2025-04 | $425,000 | 1,320 | 24.1% |
| 177 CHESTNUT DR | 2026-04 | $722,000 | 1,234 | 24.2% |
| 24 LAKE TRAIL E | 2025-06 | $625,000 | 1,286 | 23.9% |
| 31 POINT VIEW PARKWAY | 2026-02 | $450,000 | — | 31.8% |
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