The Fair Share Report
163 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 $455,459 – $660,226, 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 $608,631 home should be assessed near $218,012.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $29,312 below what the ratio math suggests (13.4%).
Step 4 · The tax rate — same for every Wayne home
$3.337 Schools · 56% $1.251 County · 21% $1.409 Town · 23%
This home's own bill implies $5.866 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
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 |
|---|---|---|---|---|
| 27 CHESTNUT DR | 2025-03 | $605,000 | 1,666 | 32.3% |
| 132 LINDEN RD | 2026-03 | $640,000 | 1,680 | 27.9% |
| 153 CHESTNUT DR | 2026-06 | $725,000 | 1,718 | 27.6% |
| 28 DOGWOOD TERR | 2025-04 | $600,000 | 1,555 | 28.3% |
| 202 NEWARK POMPTON TPKE | 2025-12 | $470,000 | 1,616 | 34.7% |
| 77 CHESTNUT DR | 2025-12 | $466,000 | 1,614 | 43.1% |
| 40 PROSPECT RD | 2025-10 | $620,000 | 1,600 | 25.6% |
| 498 PINES LAKE DR E | 2025-07 | $675,000 | 1,773 | 27.8% |
| 10 ORCHARD PLACE | 2026-05 | $350,000 | 1,731 | 46.4% |
| 35 BEECHWOOD DR | 2026-04 | $475,000 | 1,501 | 37.9% |
| 197 OAKWOOD DR | 2025-08 | $710,000 | 1,652 | 30.2% |
| 35 MINNS AVE | 2025-06 | $520,000 | 1,880 | 28.2% |
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