The Fair Share Report
24 Westervelt St
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 $501,447 – $706,831, 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 $665,786 home should be assessed near $238,485.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $84,985 below what the ratio math suggests (35.6%).
Step 4 · The tax rate — same for every Wayne home
$3.337 Schools · 56% $1.251 County · 21% $1.409 Town · 23%
This home's own bill implies $5.835 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
Step 5 · The bill
This home vs. every recent Wayne sale · assessed ÷ market
16%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 |
|---|---|---|---|---|
| 19 FERNDALE RD | 2026-05 | $480,000 | 1,611 | 33.6% |
| 667 COLFAX RD | 2025-12 | $500,000 | 1,591 | 29.6% |
| 31 POINT VIEW PARKWAY | 2026-02 | $450,000 | — | 31.8% |
| 72 BAYWOOD TERR | 2025-06 | $670,000 | 1,590 | 26.1% |
| 5 SUMMIT DR | 2025-04 | $715,700 | 1,529 | 30.2% |
| 39 PACKANACK LK RD | 2025-04 | $650,000 | 1,564 | 28.8% |
| 8 RIDGE PLACE | 2025-12 | $651,000 | 1,497 | 25.9% |
| 50 LEONARD TERR | 2025-11 | $680,000 | 1,536 | 25.7% |
| 110 CHESTNUT DR | 2025-08 | $750,000 | 1,715 | 33.1% |
| 41 BRIARWOOD RD | 2025-06 | $665,000 | 1,672 | 26.8% |
| 59 MAGNOLIA PLACE | 2025-08 | $775,000 | 1,702 | 27.5% |
| 38 WOODLOT RD | 2026-01 | $685,000 | 1,550 | 21.5% |
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