The Fair Share Report
175 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 $3,407,335 – $6,373,974, from 12 comparable Summit 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 Summit assessments sit below market value — republished every October, applied town-wide. A $5,081,429 home should be assessed near $1,565,588.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $87,112 above what the ratio math suggests (5.6%).
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
16%54%
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 |
|---|---|---|---|---|
| 115 KENT PL BLVD | 2025-08 | $1,700,000 | 6,817 | 47.6% |
| 141 HOBART AVE | 2025-04 | $4,500,000 | 6,437 | 31.2% |
| 10 ROWAN ROAD | 2026-01 | $4,450,000 | 8,450 | 37.2% |
| 73 EDGEWOOD RD | 2025-06 | $5,525,000 | 6,758 | 26.9% |
| 60 FERNWOOD RD | 2026-05 | $3,995,000 | 8,054 | 45.1% |
| 149 HILL CREST AVE | 2026-06 | $4,200,000 | 5,868 | 29.6% |
| 29 NORWOOD AVE | 2025-08 | $4,530,000 | 5,270 | 29.3% |
| 181 SUMMIT AVE | 2025-12 | $2,975,000 | 5,379 | 35.2% |
| 57 FERNWOOD RD | 2025-06 | $4,650,000 | 5,077 | 27.3% |
| 34 DOGWOOD DR | 2025-05 | $4,110,000 | 4,519 | 25.0% |
| 45 WOODMERE DR | 2025-03 | $3,550,000 | 4,970 | 22.5% |
| 121 WHITTREDGE RD | 2025-03 | $4,350,000 | 5,063 | 29.6% |
Is this your house?
Run your own report →