The Fair Share Report
15 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 $711,055 – $864,213, 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 $803,524 home should be assessed near $287,822.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $21,178 above what the ratio math suggests (7.4%).
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
19%49%
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 |
|---|---|---|---|---|
| 37 HAMILTON AVE | 2025-05 | $950,000 | 2,576 | 31.1% |
| 31 POINT VIEW PARKWAY | 2026-02 | $450,000 | — | 31.8% |
| 174 HILLCREST DR | 2026-03 | $760,000 | 2,136 | 28.8% |
| 26 GIANNONE RD | 2025-10 | $770,000 | 2,172 | 28.7% |
| 108 ALGONQUIN TRAIL | 2025-01 | $905,000 | 2,620 | 28.0% |
| 53 SUNSET TERR | 2025-08 | $760,000 | 2,463 | 34.5% |
| 14 ONEIDA TRAIL | 2026-03 | $765,000 | 2,636 | 29.4% |
| 26 AUDUBON PKWY | 2025-10 | $625,000 | 2,314 | 27.4% |
| 5 FERNDALE RD | 2026-04 | $710,000 | 2,146 | 27.3% |
| 99 BEECH TERR | 2026-05 | $815,000 | 2,494 | 26.4% |
| 55 LEWIS ST | 2025-06 | $799,999 | 2,631 | 25.5% |
| 1666 HAMBURG TPKE | 2025-08 | $480,000 | 2,358 | 53.5% |
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