The Fair Share Report
152 Passaic Ave
Summit, NJ 07901
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 $685,938 – $1,085,495, from 12 comparable Summit sales in the past 18 months, at this home's 1,561 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Summit assessments sit below market value — republished every October, applied town-wide. A $891,267 home should be assessed near $274,599.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $50,299 below what the ratio math suggests (18.3%).
Step 4 · The tax rate — same for every Summit home
$2.335 Schools · 52% $1.092 County · 24% $1.043 Town · 23%
Summit also levies a Special Improvement District charge inside its district boundaries — the county roll doesn't say which homes are in it, but a bill's "IMPROVEMENT DISTRICT" line does. District homes pay $4.654 per $100 all-in (+$0.184).
Step 5 · The bill
This home vs. every recent Summit sale · assessed ÷ market
15%41%
Paying about right
This home's ratio lands inside Summit'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 |
|---|---|---|---|---|
| 44 STANLEY AVE | 2025-07 | $999,999 | 1,774 | 27.5% |
| 133 MORRIS AVE | 2026-05 | $615,000 | 1,564 | 23.9% |
| 53 MADISON AVE | 2025-07 | $1,150,000 | 1,544 | 21.3% |
| 28 SHUNPIKE RD | 2026-03 | $851,000 | 1,584 | 33.1% |
| 16 FAIRVIEW AVE | 2026-05 | $1,415,000 | 1,536 | 24.3% |
| 19 TULIP ST | 2025-11 | $700,000 | 1,593 | 42.5% |
| 8 JOHN ST | 2025-04 | $470,000 | 1,597 | 36.1% |
| 24 GREENFIELD AVENUE | 2025-11 | $869,000 | 1,522 | 28.0% |
| 9 DENMAN PL | 2025-01 | $600,000 | 1,400 | 30.9% |
| 14 HARVARD ST | 2025-05 | $979,000 | 1,605 | 28.5% |
| 55 HIGH ST | 2025-08 | $1,436,135 | 1,504 | 20.4% |
| 16 LOWELL AVE | 2025-12 | $1,130,000 | 1,625 | 21.5% |
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