The Fair Share Report
28 Ellen Ln
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 $711,932 – $860,988, 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 $770,464 home should be assessed near $275,980.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $92,880 below what the ratio math suggests (33.7%).
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 $5.861 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%
Keep quiet and enjoy it
This home's assessment ratio sits below the Wayne pack — the frozen assessment is treating it kindly. It pays less than a fresh look would charge.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 18 CHANDLER DR | 2025-05 | $687,000 | 1,856 | 38.1% |
| 7 KNIGHT RD | 2025-07 | $855,000 | 1,882 | 25.1% |
| 26 GREENRALE AVE | 2026-04 | $782,000 | 1,879 | 28.2% |
| 104 LIONSHEAD DR W | 2026-06 | $865,000 | 1,872 | 23.0% |
| 31 MYRTLE AVE | 2025-06 | $680,000 | 2,002 | 31.5% |
| 40 MONTEREY DR | 2025-05 | $870,000 | 1,932 | 24.1% |
| 15 COVENTRY RD | 2025-08 | $749,000 | 1,898 | 30.2% |
| 32 AUGUSTA DR | 2026-03 | $780,000 | 1,832 | 27.1% |
| 21 HAMPTON TERR | 2025-07 | $855,700 | 1,968 | 30.5% |
| 35 MEDFORD PLACE | 2025-11 | $735,000 | 1,898 | 37.3% |
| 60 FURMAN DR | 2025-08 | $782,000 | 1,898 | 30.8% |
| 444 BLACK OAK RIDGE RD | 2025-09 | $777,000 | 2,003 | 29.3% |
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