The Fair Share Report
21 Wayside
Millburn, NJ 07078
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 $853,346 – $1,306,167, from 12 comparable Millburn 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 Millburn assessments sit below market value — republished every October, applied town-wide. A $1,093,476 home should be assessed near $765,652.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $50,652 below what the ratio math suggests (6.6%).
Step 4 · The tax rate — same for every Millburn home
$1.033 Schools · 51% $0.453 County · 22% $0.532 Town · 26%
Step 5 · The bill
This home vs. every recent Millburn sale · assessed ÷ market
45%89%
Paying about right
This home's ratio lands inside Millburn'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 |
|---|---|---|---|---|
| 96 RECTOR STREET | 2026-04 | $651,888 | 1,632 | 79.8% |
| 422 MILLBURN AVENUE | 2025-05 | $1,100,000 | 1,686 | 43.7% |
| 25 CYPRESS STREET | 2025-06 | $939,000 | 1,759 | 57.1% |
| 21 NORWOOD TERRACE | 2025-04 | $1,135,000 | 1,742 | 61.6% |
| 451 WYOMING AVENUE | 2025-01 | $1,121,000 | 1,956 | 58.3% |
| 15 NORWOOD TERRACE | 2026-03 | $1,200,000 | 1,737 | 54.8% |
| 894 RIDGEWOOD ROAD | 2026-05 | $1,417,000 | 1,619 | 52.5% |
| 45 OCEAN STREET | 2025-10 | $990,000 | 1,644 | 31.6% |
| 45 OCEAN STREET | 2025-05 | $820,000 | 1,644 | 38.2% |
| 60 SOUTHERN SLOPE DRIVE | 2025-08 | $1,410,000 | 1,798 | 57.4% |
| 114 MYRTLE AVENUE | 2025-08 | $898,000 | 1,890 | 68.3% |
| 28 LOCUST AVENUE | 2025-10 | $1,265,000 | 1,670 | 51.9% |
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