The Fair Share Report
18 Second St
Wanaque, NJ 07465
The town adjusts for market price changes once a year — but only based on the average price change of all homes in the area. This report checks whether this house's assessment kept pace.
Good news — this home pays less than its share
Its assessment sits low relative to what homes like it actually sell for. An appeal would only invite a fresh look at a number working in the owner's favor.
Step 1 · Market value
Likely range $466,385 – $536,415, from 12 comparable Wanaque 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 Wanaque assessments sit below market value — republished every October, applied town-wide. A $521,596 home should be assessed near $283,800.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $90,900 below what the ratio math suggests (32.0%).
Step 4 · The tax rate — same for every Wanaque home
$2.486 Schools · 55% $0.828 County · 18% $1.227 Town · 27%
Step 5 · The bill
This home vs. every recent Wanaque sale · assessed ÷ market
31%68%
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 11 GEORGE ST | 2025-11 | $575,000 | 1,432 | 35.8% |
| 126 JEFFERSON ST | 2026-05 | $475,000 | 1,480 | 40.9% |
| 13 FRANKLIN PLACE | 2025-07 | $450,000 | 1,128 | 42.8% |
| 1192 RINGWOOD AVE | 2025-02 | $450,000 | 1,122 | 44.3% |
| 29 COLFAX AVE | 2026-01 | $425,000 | 1,435 | 48.3% |
| 107 MONROE ST | 2025-04 | $445,000 | 1,334 | 41.4% |
| 29 EVERGREEN AVE | 2026-03 | $525,000 | 1,305 | 38.4% |
| 90 BURNSIDE PLACE | 2025-11 | $550,000 | 1,336 | 38.2% |
| 2 ROGER AVE | 2026-04 | $530,000 | 1,292 | 37.4% |
| 17 LOCUST ST | 2025-02 | $550,000 | 1,512 | 36.5% |
| 6 EVERGREEN AVE | 2026-06 | $560,000 | 1,356 | 38.6% |
| 74 BURNSIDE PLACE | 2025-03 | $480,000 | 1,248 | 39.1% |
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