The Fair Share Report
252 Summit Ave
Summit, NJ 07901
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 $1,666,139 – $2,525,528, from 12 comparable Summit 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 Summit assessments sit below market value — republished every October, applied town-wide. A $1,995,440 home should be assessed near $614,795.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $153,105 above what the ratio math suggests (24.9%).
Step 4 · The tax rate — same for every Summit home
$2.335 Schools · 52% $1.092 County · 24% $1.043 Town · 23%
Summit also levies a Special Improvement District charge inside its district boundaries — the county roll doesn't say which homes are in it, but a bill's "IMPROVEMENT DISTRICT" line does. District homes pay $4.654 per $100 all-in (+$0.184).
Step 5 · The bill
This home vs. every recent Summit sale · assessed ÷ market
16%52%
A touch high — worth watching
This home's ratio sits above most of Summit, but doesn't clear NJ's legal appeal line (35.43%).
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 11 LINDA LANE | 2025-08 | $1,750,000 | 3,108 | 31.9% |
| 25 BEDFORD ROAD | 2026-04 | $1,900,000 | 3,385 | 27.5% |
| 75 TANGLEWOOD DR | 2025-06 | $2,260,000 | 3,154 | 24.4% |
| 71 DALE DR | 2026-05 | $2,595,000 | 3,287 | 24.9% |
| 571 SPRINGFIELD AVE #1A | 2025-09 | $1,312,500 | 2,320 | 31.6% |
| 50 NEW ENGLAND AV-UNIT 1H | 2025-09 | $1,275,000 | 2,320 | 32.7% |
| 284 KENT PLACE BLVD | 2025-06 | $2,000,000 | 3,070 | 24.8% |
| 10 BEACON RD | 2025-01 | $2,500,000 | 4,230 | 36.5% |
| 55 ROTARY DR | 2025-08 | $2,150,000 | 3,032 | 25.1% |
| 72 COLT RD | 2025-02 | $2,250,000 | 2,807 | 36.5% |
| 126 WEST END AVE | 2025-08 | $1,975,000 | 2,925 | 26.4% |
| 96 PORTLAND RD | 2025-06 | $2,619,000 | 3,216 | 25.1% |
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