The Fair Share Report
118 Nellis 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 $510,337 – $831,499, 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 $717,649 home should be assessed near $257,062.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $17,138 above what the ratio math suggests (6.7%).
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%59%
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 |
|---|---|---|---|---|
| 29 PONDS CIRCLE | 2026-03 | $561,500 | 2,336 | 40.1% |
| 24 PONDS CIRCLE | 2026-05 | $600,000 | 2,420 | 35.0% |
| 16 PONDS CIRCLE | 2025-02 | $645,000 | 2,420 | 30.3% |
| 21 BOURBON ST | 2025-05 | $729,000 | 2,324 | 37.4% |
| 139 WEBSTER DR | 2026-03 | $762,000 | 2,371 | 34.8% |
| 53 PONDS CIRCLE | 2026-02 | $625,000 | 2,521 | 38.1% |
| 4 PINETREE DR | 2025-06 | $915,000 | 2,296 | 33.8% |
| 15 PHYLLIS COURT | 2025-09 | $875,000 | 2,419 | 31.2% |
| 4 STURBRIDGE CIRCLE | 2025-04 | $999,000 | 2,453 | 33.6% |
| 60 TOMS LAKE RD | 2025-09 | $850,000 | 2,632 | 28.9% |
| 49 PONDS CIRCLE | 2025-04 | $660,000 | 2,633 | 31.9% |
| 5 WILLS AVE | 2025-08 | $685,000 | 2,128 | 33.2% |
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