The Fair Share Report
119 Lake Dr E
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 $751,573 – $826,962, 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 $780,354 home should be assessed near $279,523.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $13,177 above what the ratio math suggests (4.7%).
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%47%
A touch high — worth watching
This home's ratio sits above most of Wayne, but doesn't clear NJ's legal appeal line (41.19%).
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 100 WILSON AVE | 2026-01 | $742,500 | 2,160 | 31.7% |
| 47 SENECA TRAIL | 2025-06 | $835,000 | 1,969 | 25.2% |
| 8 WEDGEWOOD DR | 2026-06 | $780,000 | 2,044 | 28.8% |
| 77 GARSIDE AVE | 2026-04 | $740,000 | 1,980 | 27.3% |
| 4 CHARLOTTE TERR | 2025-03 | $770,000 | 2,008 | 29.3% |
| 12 KINGSTON RD | 2026-02 | $750,000 | 2,032 | 27.8% |
| 18 BREEN TERR | 2025-07 | $861,000 | 2,144 | 31.2% |
| 30 MARLO RD | 2025-02 | $769,900 | 2,052 | 29.6% |
| 44 GROVER DR | 2025-08 | $860,000 | 2,106 | 27.4% |
| 3 CLIFFORD DR | 2025-05 | $750,000 | 2,034 | 25.9% |
| 99 CHESTNUT DR | 2025-07 | $807,000 | 2,016 | 28.1% |
| 15 ELLA LANE | 2026-06 | $822,000 | 2,076 | 27.3% |
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