The Fair Share Report
128 Colfax 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 $665,348 – $818,469, 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 $731,452 home should be assessed near $262,006.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $45,406 below what the ratio math suggests (17.3%).
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 |
|---|---|---|---|---|
| KNOX TERRACE | 2025-09 | $15,000 | — | 24.7% |
| 33 IOWA RD | 2025-04 | $715,000 | 1,830 | 34.1% |
| 24 CASTLES DR | 2025-05 | $825,000 | 1,870 | 32.9% |
| 40 NEWARK AVE | 2025-11 | $690,000 | 1,836 | 26.6% |
| 34 CHOPIN DR | 2025-10 | $921,500 | 1,800 | 25.6% |
| 53 CHOPIN DR | 2025-10 | $700,000 | 2,315 | 35.0% |
| 197 RATZER RD | 2025-10 | $900,000 | 1,876 | 25.8% |
| 53 MOUNTAIN RIDGE DR | 2025-06 | $722,000 | 1,744 | 31.7% |
| 28 JOYCE LANE | 2025-05 | $800,000 | 1,806 | 25.9% |
| 176 LAAUWE AVE | 2025-05 | $690,000 | 1,986 | 32.8% |
| 65 BRANDON AVE | 2025-08 | $600,000 | 1,812 | 36.7% |
| 62 ALPINE DR | 2026-06 | $825,000 | 1,909 | 31.2% |
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