The Fair Share Report
23 Lake Dr E
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 $595,047 – $812,434, from 12 comparable Wayne 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 Wayne assessments sit below market value — republished every October, applied town-wide. A $771,493 home should be assessed near $276,349.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $9,051 above what the ratio math suggests (3.3%).
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%53%
A touch high — worth watching
This home's ratio sits above most of Wayne, but doesn't clear NJ's legal appeal line (41.19%).
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 47 LAUREL DR | 2026-06 | $730,000 | 2,076 | 26.8% |
| 35 MINNS AVE | 2025-06 | $520,000 | 1,880 | 28.2% |
| 21 ALPS RD | 2025-05 | $712,000 | 1,898 | 25.7% |
| 174 HILLCREST DR | 2026-03 | $760,000 | 2,136 | 28.8% |
| 498 PINES LAKE DR E | 2025-07 | $675,000 | 1,773 | 27.8% |
| 14 ONEIDA TRAIL | 2026-03 | $765,000 | 2,636 | 29.4% |
| 99 BEECH TERR | 2026-05 | $815,000 | 2,494 | 26.4% |
| 18 SOUTH RD | 2026-05 | $650,000 | 2,275 | 26.1% |
| 4 LENAPE TRAIL | 2025-09 | $650,000 | 2,312 | 33.5% |
| 26 GIANNONE RD | 2025-10 | $770,000 | 2,172 | 28.7% |
| 79 LIONSHEAD DR W | 2025-12 | $735,000 | 2,006 | 28.8% |
| 176 BEECHWOOD DR | 2025-10 | $730,000 | 1,867 | 29.6% |
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