The Fair Share Report
174 Springfield 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 $1,721,785 – $2,031,420, from 12 comparable Summit sales in the past 18 months, at this home's 2,415 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 $1,963,414 home should be assessed near $604,928.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $216,228 below what the ratio math suggests (35.7%).
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
14%41%
Keep quiet and enjoy it
This home's assessment ratio sits below the Summit 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 |
|---|---|---|---|---|
| 15 CREST ACRE CT | 2026-04 | $1,499,000 | 2,567 | 51.5% |
| 62 BEEKMAN RD | 2025-11 | $1,850,000 | 2,562 | 26.5% |
| 147 CANOE BROOK PKWY | 2025-11 | $1,700,000 | 2,021 | 21.5% |
| 50 BELLEVUE AVE | 2025-12 | $2,000,000 | 2,422 | 24.3% |
| 1 LORRAINE RD | 2025-04 | $2,175,000 | 2,491 | 22.3% |
| 29 DRUID HILL RD | 2025-10 | $1,999,999 | 2,460 | 29.8% |
| 284 KENT PLACE BLVD | 2025-06 | $2,000,000 | 3,070 | 24.8% |
| 27 BEEKMAN RD | 2025-11 | $2,295,000 | 3,219 | 26.5% |
| 43 PASSAIC AVE | 2026-01 | $1,225,000 | 2,291 | 24.9% |
| 22 BEDFORD RD | 2025-12 | $1,750,000 | 2,320 | 22.2% |
| 72 COLT RD | 2025-02 | $2,250,000 | 2,807 | 36.5% |
| 63 WHITTREDGE RD | 2025-10 | $2,795,000 | 2,576 | 31.6% |
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