The Fair Share Report
18 Gates Pl
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 $1,469,299 – $2,028,619, from 12 comparable Wayne sales in the past 18 months, at this home's 5,007 sq ft.
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 $1,647,427 home should be assessed near $590,108.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $7,108 below what the ratio math suggests (1.2%).
Step 4 · The tax rate — same for every Wayne home
$3.337 Schools · 56% $1.251 County · 21% $1.409 Town · 23%
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 |
|---|---|---|---|---|
| 334 PINES LAKE DR E | 2025-08 | $1,975,000 | 4,664 | 31.0% |
| 1118 PINES LAKE DR W | 2025-10 | $2,430,000 | 5,041 | 33.3% |
| 7 SOLDATOVIC COURT | 2025-09 | $1,400,000 | 4,255 | 34.9% |
| 180 PINES LAKE DR E | 2025-09 | $2,200,000 | 5,430 | 26.8% |
| 12 JENNY LANE | 2025-09 | $1,299,900 | 4,394 | 29.8% |
| 115 LAKE DR E | 2025-01 | $1,700,000 | 5,365 | 24.6% |
| 3 LITTLE PLACE | 2025-07 | $1,245,000 | 4,797 | 30.1% |
| 111 CHOPIN DR | 2026-05 | $1,400,000 | 4,781 | 33.9% |
| 23 SURREY DR | 2025-12 | $1,175,000 | 4,952 | 37.1% |
| 31 BOURBON ST | 2025-07 | $1,400,000 | 3,998 | 29.2% |
| 17 FARMSTEAD LANE | 2025-07 | $1,460,000 | 3,996 | 29.9% |
| 43 HORIZON DR | 2025-05 | $1,420,000 | 4,839 | 34.8% |
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