The Fair Share Report
127 Chestnut 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 $485,895 – $689,548, 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 $649,304 home should be assessed near $232,581.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $32,781 below what the ratio math suggests (14.1%).
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%
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 |
|---|---|---|---|---|
| 498 PINES LAKE DR E | 2025-07 | $675,000 | 1,773 | 27.8% |
| 35 MINNS AVE | 2025-06 | $520,000 | 1,880 | 28.2% |
| 27 CHESTNUT DR | 2025-03 | $605,000 | 1,666 | 32.3% |
| 176 BEECHWOOD DR | 2025-10 | $730,000 | 1,867 | 29.6% |
| 21 ALPS RD | 2025-05 | $712,000 | 1,898 | 25.7% |
| 202 NEWARK POMPTON TPKE | 2025-12 | $470,000 | 1,616 | 34.7% |
| 153 CHESTNUT DR | 2026-06 | $725,000 | 1,718 | 27.6% |
| 217 ALPS RD | 2025-11 | $685,000 | 1,654 | 25.6% |
| 47 LAUREL DR | 2026-06 | $730,000 | 2,076 | 26.8% |
| 1 LENAPE TRAIL | 2026-02 | $625,000 | 1,855 | 30.8% |
| 27 GRANDVIEW DR | 2025-10 | $566,000 | 1,764 | 38.9% |
| 10 ORCHARD PLACE | 2026-05 | $350,000 | 1,731 | 46.4% |
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