The Fair Share Report
16 Second St
Wanaque, NJ 07465
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 $455,186 – $513,234, from 12 comparable Wanaque sales in the past 18 months, at this home's 1,141 sq ft.
Step 2 · The Director's Ratio
The state's official measure of how far Wanaque assessments sit below market value — republished every October, applied town-wide. A $458,153 home should be assessed near $249,281.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $77,081 below what the ratio math suggests (30.9%).
Step 4 · The tax rate — same for every Wanaque home
$2.486 Schools · 55% $0.828 County · 18% $1.227 Town · 27%
Step 5 · The bill
This home vs. every recent Wanaque sale · assessed ÷ market
28%68%
Keep quiet and enjoy it
This home's assessment ratio sits below the Wanaque pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 13 FRANKLIN PLACE | 2025-07 | $450,000 | 1,128 | 42.8% |
| 1192 RINGWOOD AVE | 2025-02 | $450,000 | 1,122 | 44.3% |
| 6 ADAMS ST | 2025-01 | $450,000 | 1,126 | 43.7% |
| 9 EAST ST | 2025-06 | $449,000 | 984 | 42.3% |
| 11 GEORGE ST | 2025-11 | $575,000 | 1,432 | 35.8% |
| 5 RHINESMITH AVE | 2025-08 | $500,000 | 990 | 38.1% |
| 24 ROSELAND AVE | 2026-04 | $385,000 | 1,066 | 44.3% |
| 57 BURNSIDE PLACE | 2025-06 | $440,000 | 1,056 | 38.8% |
| 126 JEFFERSON ST | 2026-05 | $475,000 | 1,480 | 40.9% |
| 45 BERGEN AVE | 2025-11 | $475,000 | 1,056 | 41.8% |
| 45 BERGEN AVE | 2025-06 | $433,900 | 1,056 | 45.8% |
| 8 PHELAN COURT | 2025-04 | $515,000 | 1,240 | 36.1% |
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