The Fair Share Report
27 Beacon Rd
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 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.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since.
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
The record, in full
Not enough closely-comparable recent sales in Summit for a fairness verdict — the town's current median assessment ratio is 26.5%.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 60 FERNWOOD RD | 2026-05 | $3,995,000 | 8,054 | 45.1% |
| 10 ROWAN ROAD | 2026-01 | $4,450,000 | 8,450 | 37.2% |
| 141 HOBART AVE | 2025-04 | $4,500,000 | 6,437 | 31.2% |
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