The Fair Share Report
115 Lake Dr E
Wayne, NJ 07470
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
This home's payments are about right
It sits inside Wayne's normal range — market price changes haven't singled it out. No case for a tax appeal.
Step 1 · Market value
Likely range $1,392,417 – $1,975,331, from 12 comparable Wayne sales in the past 18 months, at this home's 5,365 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 $1,587,156 home should be assessed near $568,519.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $150,119 below what the ratio math suggests (26.4%).
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
16%47%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 5 MONTAUK TRAIL | 2025-12 | $1,540,000 | 6,048 | 38.0% |
| 111 CHOPIN DR | 2026-05 | $1,400,000 | 4,781 | 33.9% |
| 1118 PINES LAKE DR W | 2025-10 | $2,430,000 | 5,041 | 33.3% |
| 63 WESTVIEW RD | 2025-11 | $1,620,000 | 4,232 | 30.4% |
| 43 HORIZON DR | 2025-05 | $1,420,000 | 4,839 | 34.8% |
| 23 HORIZON DR | 2025-06 | $1,580,000 | 4,733 | 39.1% |
| 12 JENNY LANE | 2025-09 | $1,299,900 | 4,394 | 29.8% |
| 3 LITTLE PLACE | 2025-07 | $1,245,000 | 4,797 | 30.1% |
| 18 GATES PLACE | 2025-05 | $1,502,000 | 5,007 | 38.8% |
| 180 PINES LAKE DR E | 2025-09 | $2,200,000 | 5,430 | 26.8% |
| 16 SHADOW RIDGE RD | 2025-11 | $1,350,000 | 3,968 | 32.5% |
| 801 FOUR SEASONS DR | 2025-12 | $530,000 | — | 31.2% |
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