The Fair Share Report
175 Mountain 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 $823,600 – $1,156,584, from 12 comparable Summit sales in the past 18 months, at this home's 1,533 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 $1,027,479 home should be assessed near $316,566.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $14,134 above what the ratio math suggests (4.5%).
Step 4 · The tax rate — same for every Summit home
$2.335 Schools · 52% $1.092 County · 24% $1.043 Town · 23%
This home's own bill implies $4.395 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
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
16%46%
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 |
|---|---|---|---|---|
| 28 SHUNPIKE RD | 2026-03 | $851,000 | 1,584 | 33.1% |
| 218 MOUNTAIN AVE | 2025-07 | $999,999 | 1,492 | 28.6% |
| 3 ROTARY DR | 2025-07 | $975,000 | 1,444 | 37.9% |
| 172 COLONIAL RD | 2025-10 | $1,100,000 | 1,458 | 22.6% |
| 19 TULIP ST | 2025-11 | $700,000 | 1,593 | 42.5% |
| 55 HIGH ST | 2025-08 | $1,436,135 | 1,504 | 20.4% |
| 53 MADISON AVE | 2025-07 | $1,150,000 | 1,544 | 21.3% |
| 14 HARVARD ST | 2025-05 | $979,000 | 1,605 | 28.5% |
| 57 MICHIGAN AVE | 2025-09 | $715,000 | 1,496 | 27.9% |
| 127 BUTLER PKWY | 2026-02 | $890,599 | 1,398 | 24.3% |
| 57 HIGH ST | 2025-09 | $1,320,000 | 1,724 | 24.3% |
| 24 GREENFIELD AVENUE | 2025-11 | $869,000 | 1,522 | 28.0% |
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