The Fair Share Report
16 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 $686,241 – $848,605, 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 $749,661 home should be assessed near $268,529.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $27,429 below what the ratio math suggests (10.2%).
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 |
|---|---|---|---|---|
| 5 FERNDALE RD | 2026-04 | $710,000 | 2,146 | 27.3% |
| 18 BREEN TERR | 2025-07 | $861,000 | 2,144 | 31.2% |
| 258 TOTOWA RD | 2025-01 | $780,000 | 2,108 | 26.1% |
| 8 FOREST TERR | 2025-11 | $605,000 | 1,931 | 34.8% |
| 15 ELLA LANE | 2026-06 | $822,000 | 2,076 | 27.3% |
| 3 CLIFFORD DR | 2025-05 | $750,000 | 2,034 | 25.9% |
| 508 PINES LAKE DR E | 2026-06 | $750,000 | 2,242 | 30.7% |
| 27 COLVILLE RD | 2026-01 | $689,000 | 2,186 | 27.4% |
| 26 GIANNONE RD | 2025-10 | $770,000 | 2,172 | 28.7% |
| 38 AUGUSTA DR | 2026-01 | $750,000 | 2,134 | 29.3% |
| 362 VALLEY RD | 2025-10 | $685,000 | 1,934 | 26.6% |
| 28 AUGUSTA DR | 2025-04 | $815,000 | 2,032 | 31.2% |
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