The Fair Share Report
285 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 $798,531 – $1,075,828, 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 $898,949 home should be assessed near $322,004.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $48,404 below what the ratio math suggests (15.0%).
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 |
|---|---|---|---|---|
| 18 IOWA RD | 2025-10 | $795,000 | 2,553 | 30.3% |
| 29 MANOR DR | 2025-04 | $880,000 | 2,489 | 30.8% |
| KNOX TERRACE | 2025-09 | $15,000 | — | 24.7% |
| 2 EDEN PLACE | 2026-03 | $925,000 | 2,592 | 31.6% |
| 48 ALPS RD | 2026-01 | $640,000 | 2,375 | 33.4% |
| 64 MAGNOLIA PLACE | 2025-04 | $990,000 | 2,374 | 29.1% |
| 8 YORKTOWN RD | 2025-05 | $950,000 | 2,516 | 27.6% |
| 83 MAPLE AVE | 2025-06 | $1,090,850 | 2,645 | 27.8% |
| 64 POWDER HORN DR | 2025-12 | $900,000 | 2,403 | 28.5% |
| 32 SEARS PLACE | 2025-05 | $840,000 | 2,582 | 31.6% |
| 10 EMERSON PLACE | 2025-08 | $875,000 | 2,897 | 33.1% |
| 49 LAGUNA DR | 2026-06 | $840,000 | 2,245 | 23.4% |
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