The Fair Share Report
23 Lake Trl 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 $503,574 – $720,018, 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 $596,781 home should be assessed near $213,767.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $45,567 below what the ratio math suggests (21.3%).
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
18%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 |
|---|---|---|---|---|
| 202 NEWARK POMPTON TPKE | 2025-12 | $470,000 | 1,616 | 34.7% |
| 40 PROSPECT RD | 2025-10 | $620,000 | 1,600 | 25.6% |
| 38 LAUREL DR | 2025-05 | $735,000 | 1,432 | 22.9% |
| 77 CHESTNUT DR | 2025-12 | $466,000 | 1,614 | 43.1% |
| 29 OLDHAM RD | 2025-08 | $480,000 | 1,412 | 27.9% |
| 146 BEECHWOOD DR | 2025-08 | $730,000 | 1,423 | 28.0% |
| 104 OLDHAM RD | 2025-08 | $530,000 | 1,373 | 26.0% |
| 31 POINT VIEW PARKWAY | 2026-02 | $450,000 | — | 31.8% |
| 50 LEONARD TERR | 2025-11 | $680,000 | 1,536 | 25.7% |
| 27 CHESTNUT DR | 2025-03 | $605,000 | 1,666 | 32.3% |
| 153 RYERSON AVE | 2025-06 | $475,000 | 1,404 | 27.5% |
| 217 ALPS RD | 2025-11 | $685,000 | 1,654 | 25.6% |
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