The Fair Share Report
284 Springfield 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 $1,254,723 – $2,048,836, 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 $1,538,662 home should be assessed near $474,062.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $111,662 below what the ratio math suggests (23.6%).
Step 4 · The tax rate — same for every Summit home
$2.335 Schools · 52% $1.092 County · 24% $1.043 Town · 23%
This home's own bill implies $4.402 per $100 — below the general rate, usually a deduction on the bill (senior, veteran, disabled).
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
12%41%
Paying about right
This home's ratio lands inside Summit'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 |
|---|---|---|---|---|
| 109 MOUNTAIN AVE | 2025-12 | $1,825,000 | 2,429 | 20.3% |
| 28 MOUNTAIN AVE | 2025-07 | $1,300,000 | 2,468 | 22.2% |
| 34 OAKLEY AVE | 2025-06 | $1,800,000 | 2,428 | 25.9% |
| 9 HAWTHORNE PL | 2025-09 | $1,350,000 | 2,080 | 34.8% |
| 88 BEEKMAN RD | 2026-03 | $1,999,999 | 2,408 | 21.6% |
| 15 HAWTHORNE PL | 2025-07 | $2,400,000 | 2,276 | 24.3% |
| 22 BEDFORD RD | 2025-12 | $1,750,000 | 2,320 | 22.2% |
| 50 BELLEVUE AVE | 2025-12 | $2,000,000 | 2,422 | 24.3% |
| 14 CHAPEL ST | 2025-06 | $1,150,000 | 1,885 | 20.8% |
| 15 CREST ACRE CT | 2026-04 | $1,499,000 | 2,567 | 51.5% |
| 25 LOCUST DR | 2025-08 | $1,525,000 | 2,738 | 27.8% |
| 69 ASHWOOD AVE | 2025-05 | $880,000 | 2,372 | 27.8% |
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