The Fair Share Report
281 Colfax Rd
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 $1,578,449 – $1,964,268, from 12 comparable Wayne sales in the past 18 months, at this home's 6,199 sq ft.
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 $1,815,227 home should be assessed near $650,214.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $83,214 below what the ratio math suggests (12.8%).
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
19%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 |
|---|---|---|---|---|
| KNOX TERRACE | 2025-09 | $15,000 | — | 24.7% |
| 5 MONTAUK TRAIL | 2025-12 | $1,540,000 | 6,048 | 38.0% |
| 115 LAKE DR E | 2025-01 | $1,700,000 | 5,365 | 24.6% |
| 23 SURREY DR | 2025-12 | $1,175,000 | 4,952 | 37.1% |
| 14 WEINMANNS BLVD | 2026-06 | $1,450,000 | 5,123 | 21.4% |
| 297 TERHUNE DR | 2025-10 | $855,000 | 4,418 | 34.5% |
| 111 CHOPIN DR | 2026-05 | $1,400,000 | 4,781 | 33.9% |
| 24 APACHE RD | 2025-01 | $1,200,000 | 4,010 | 27.8% |
| 32 APACHE RD | 2025-05 | $1,200,000 | 4,396 | 40.9% |
| 1118 PINES LAKE DR W | 2025-10 | $2,430,000 | 5,041 | 33.3% |
| 43 HORIZON DR | 2025-05 | $1,420,000 | 4,839 | 34.8% |
| 63 WESTVIEW RD | 2025-11 | $1,620,000 | 4,232 | 30.4% |
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